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Sunrise Jumps After Biggest Swiss IPO in Eight Years

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Sunrise Communications AG rose on its trading debut after Switzerland’s second-largest wireless carrier raised 2 billion Swiss francs ($2.2 billion) in the biggest initial public offering on the country’s stock exchange in eight years.

The shares closed at 76 francs on their first day of trading in Zurich, almost 12 percent higher than the IPO price of 68 euros. CVC Capital Partners, which paid 3.3 billion francs for Sunrise in 2010, no longer controls the company.