Fostering an Ecosystem for Small and Midcap IPOs in Switzerland

Initial Public Offerings (IPOs) are essential for financing innovation and growth (UNCTAD 2017). In Switzerland, however, small and medium-sized enterprises (SMEs) that are eligible for an IPO often have limited access to this financing avenue or are unaware of its possibilities. Our project aims to change this dynamic by creating a tailored IPO ecosystem specifically for SMC-IPO candidates, revitalizing the market for companies and investors, and strengthening the global competitiveness of the Swiss economy.

Compared to other major European markets, which have listed over 1,400 SMEs since 2019, the Swiss market shows significant underactivity, with only 14 IPOs during this period, of which just six IPOs had a market capitalization below CHF 1 billion.

Our project focuses on optimizing the IPO process for SMEs and includes coordination with key partners, the development of a framework to assess IPO readiness and willingness of potential IPO candidates, the streamlining of the entire IPO process to enhance transparency and efficiency, post-IPO support to ensure market liquidity, as well as the consideration of digital exchanges to reduce costs and simplify processes.

The project contributes to the creation of a functioning ecosystem for IPOs of smaller companies to enhance the competitiveness of Swiss SMEs. Through close collaboration with project partners and the provision of a comprehensive service package, activity in the Swiss IPO market will be significantly increased. This will strengthen the Swiss economy, promote entrepreneurship, create jobs, and lead to a more dynamic capital market.