Mediengruppe Oberfranken and Tengelmann-backed luxury watch marketplace Chronext plans to float on the SIX Swiss Exchange later this year.
Chronext, a Switzerland-based luxury watch marketplace operator backed by publishing firm Mediengruppe Oberfranken and retail group Tengelmann, today announced its intention to float in an CHF250m ($273m) initial public offering.
The offering will likely include the issuance of new and secondary shares on the SIX Swiss Exchange. It is set to be held in the fourth quarter of this year and will potentially include an over-allotment option for up to 15% of the shares sold.
Founded in 2013, Chronext operates…
