#Netherlands #Amsterdam #Euronext Amsterdam #SWI Capital #Stoneweg Icona

SWI Capital Holding's Major Milestone

On February 19, 2026, SWI Capital Holding Ltd, the parent company of the investment group Stoneweg Icona, made a significant stride by listing 100% of its shares on Euronext Amsterdam under the ticker symbol "SWICH." This listing encompasses a total of 430,561,189 existing shares priced at €3.76 each, giving SWI a remarkable market capitalization of €1,618,910,071.

Leadership and Structure

The top-tier management that drives SWI Capital includes Max-Hervé George, who serves as the founder and CEO of SWI Group, alongside Jaume Sabater, the founder and CEO of Stoneweg, the asset management arm within the SWI Group. At the close of 2025, the pro forma balance sheet for the SWI Group stood at an impressive €3.2 billion. On the same day as the stock listing, a new board was appointed, introducing Arnaud de Puyfontaine as the non-executive director and chairman.

A Global Presence

Based in Amsterdam, SWI Group operates on a global scale, employing over 280 professionals across 26 locations in 18 different countries. The company is recognized for its diverse investment portfolio, which spans across digital infrastructure, real estate, financial institutions, hedge funds, and alternative investments, including sectors like sports, entertainment, and fintech.

The real estate segment is spearheaded by Stoneweg Group, headquartered in Geneva, Switzerland, which plays a pivotal role in the investment ecosystem with a substantial portfolio exceeding 300 properties across Europe. Icona Capital has notably invested in several real estate projects throughout the UK, Switzerland, and the Maldives, maintaining a focus on U.S. and European properties.

Investment Diversification and Strategies

In the digital infrastructure space, SWI Group is engaged through AiOnX, focused on developing, acquiring, and managing data center assets. Their approach includes the complete investment cycle, from sourcing and development to construction and operation, aiming to build a high-quality, profitable infrastructure over time. This segment represents a crucial growth driver for the group, along with their extensive array of hard assets, financial investments, and publicly listed vehicles. Currently, SWI manages two publicly traded entities: SERT, listed on the Singapore Exchange, and Varia US, which trades on the SIX Swiss Exchange.

Icona Capital also specializes in financial services, which aids the company in fostering relationships with various banks, asset managers, and fintech firms regarding financing and co-investment opportunities. The group strategically invests in collaboration with other alternative asset managers, such as hedge funds and private credit firms.

New Ventures in Entertainment

Furthermore, SWI is rapidly developing its entertainment division, making investments in entities such as Icona Racing and the sports agency platform Never Say Never, alongside various cultural and sporting landmarks.

"The listing of SWI Capital Holding on Euronext Amsterdam marks a crucial milestone for our group. It reflects the strength of our platform, the discipline of our execution, and the long-term vision that drives everything we build," commented Max-Hervé George, the CEO of SWI Capital Holding.

Jaume Sabater added, "This IPO is a significant step in the evolution of Stoneweg and a clear signal of our ambitions. By consolidating under SWI Capital Holding and gaining access to the public markets in Amsterdam, we enhance our capacity for growth, attracting long-term capital while continuing to deliver high-quality, robust performance through our core strategies."

Upcoming Transactions

In addition to these developments, the company has also disclosed plans regarding minority stakes in certain tech-based services within digital infrastructure. Although negotiations are ongoing for acquiring a more substantial share in these assets, any agreements reached will still be subject to regulatory approval.

This move signifies not only a strong market entry but also positions SWI Capital Holding robustly for future opportunities, leveraging both its current capabilities and ambitious growth plans.