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Switzerland's Sunrise stock climbs 6 pct in market debut

Reuters - UK Focus

PARIS, Feb 6 (Reuters) - Shares (Berlin: DI6.BE - news) in Swiss telecoms group Sunrise (Taiwan OTC: 2720.TWO - news) rose 6 percent in their market debut on Friday.

The company's initial public offering had been priced at 68 Swiss francs ($74) a share. At 0806 GMT, the shares traded at 72 francs, after opening at 70 francs.

Backed by European private equity fund CVC (Taiwan OTC: 4744.TWO - news) , Sunrise is raising proceeds of 1.36 billion francs with the listing, which went ahead despite a surge in the country's currency after the central bank shocked financial markets by scrapping a cap on the franc against the euro.

($1 = 0.9235 Swiss francs) (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)