February 27, 2018 / 10:28 AM / a year ago

Swiss social network ASMALLWORLD plans listing

ZURICH (Reuters) - ASMALLWORLD AG plans to list on the SIX Swiss Exchange within weeks, the private social network operator said on Tuesday.

The Zurich-based company generates revenue primarily through annual membership fees of 100 Swiss francs ($106.77) and the sale of services to members with “a shared passion for the good life” and access to more than 1,000 events a year, it said in a statement.

The company, whose main shareholder is investment group ASW Capital AG with a stake of around 60 percent, said it did not intend to sell new shares as part of the listing. ASW Capital will commit to holding at least a 50 percent stake until March 2020.

(This story corrects to read ASW Capital AG, paragraph 3)

Reporting by Michael Shields; editing by Jason Neely

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