General Atlantic-Backed SMG Said to Tap Banks for Swiss IPO

SMG Swiss Marketplace Group AG, which operates online real estate website ImmoScout24, has picked banks for an initial public offering that could value the firm at about $5 billion, according to people familiar with the matter.

The firm, which counts General Atlantic among its backers, is working with Goldman Sachs Group Inc., JPMorgan Chase & Co. and UBS Group AG on a Zurich IPO, said the people, who asked not to be identified as the information is private.

Deliberations are ongoing and SMG hasn’t reached any final conclusions about an offering, the people said.

SMG has recently taken ...