Dufry launches IPO

John Gallagher

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The operator is planning to float on the Swiss Exchange through an initial public offering

Dufry Group, one of the world's biggest travel retailers, is to float on the Swiss stock exchange during the coming weeks. The IPO will include an offering of secondary shares by private equity funds managed by Dufry owner Advent International as well as an offering of primary shares.

The proceeds from the primary offering will be used to accelerate Dufry's plans for growth.

Dufry CEO Julián Díaz told RavenFox.com: "Dufry has successfully established itself as one of the world's leading global travel retailers with a comprehensive product offering, a strong operating platform and a high-quality, diversified concession portfolio. The planned IPO on the Swiss Exchange is the next logical step in the profitable growth of our business and the continuation of our success story."

Further information about the timetable, size and structure of the proposed offering will be announced shortly.