SMG Said to Eye $1.2 Billion Zurich IPO as Soon as Next Month

SMG Swiss Marketplace Group AG, the operator of property portal ImmoScout24, is considering an initial public offering in Zurich that could raise about 1 billion Swiss francs ($1.2 billion) as soon as next month, according to people familiar with the matter.

The company, which counts General Atlantic among its backers, is sounding out investors in preparation for the potential listing, which could value it at about 4.5 billion francs, said the people, who asked not to be named because the matter is private.

SMG’s IPO would be Zurich’s first substantial new offering since Galderma Group AG’s 2.3 billion ...