On 6 February 2015, the shares of Sunrise Communications SA, Switzerland’s second largest telecom’s operator, started trading on SIX Swiss Exchange Ltd. The total base offering comprised both newly issued shares and existing shares and amounted to CHF 1.99 billion, making this the largest IPO in Switzerland since 2006 and the largest telecom IPO in EMEA since 2004. The offer price was fixed at CHF 68 per share resulting in an implied market capitalization of Sunrise in excess of CHF 3 billion.