Swisscom float

SHARES IN the state-owned Swiss telecoms company Swisscom are to be priced in a range of 330 to 410 Swiss francs when the company is floated in October, the Swiss government announced.

Based on the indicated range, the issue would be valued at between SFr7.28bn (pounds 3.2bn) and Sfr9.05bn, making it the largest initial public offering in Switzerland ever, and the largest in Europe this year. The offering is to go ahead as planned despite recent upsets on world equity markets.