SMG Rises in Swiss Debut After Investors Clamored for Shares (1)

SMG Swiss Marketplace Group’s shares gained in its Switzerland debut, after investors placed orders for at least 10 times more shares than were for sale in Europe’s largest initial public offering so far this year.

Shares of the General Atlantic-backed company traded as high as 50 Swiss francs ($62.89) apiece on Friday, 8.7% higher than its offering price of 46 Swiss francs each, before paring some of the gains.

The early lift in SMG’s shares shows investors’ appetite for new issuances in Europe at a time when the region’s equity capital markets attempt to come back from a weak ...