mer, 6 mars 2024
Galderma gears up for a landmark IPO on the SIX Swiss Exchange, marking a significant milestone in the skin care giant’s growth journey.
Galderma is setting its sights on the SIX Swiss Exchange for an Initial Public Offering (IPO), as confirmed by the company on Wednesday. This move is hailed as a crucial phase in Galderma’s expansion, with CEO Flemming Ornskov emphasizing the IPO’s significance during a conference call.
The skincare leader, formerly a Nestlé subsidiary based in Lausanne, has contemplated going public since 2021, as per Ornskov’s previous disclosures. The timing and market conditions, however, had not aligned until now, with a steadfast decision to list on the Swiss stock exchange.
Galderma aims to generate approximately 2.3 billion US dollars through the issuance of new shares in the primary tranche, with a secondary tranche potentially involving sales by main shareholder EQT.
EQT, a Swedish private equity group, acquired Galderma from Nestlé for over 10 billion dollars in 2019 and will continue to be a major stakeholder post-IPO.
The funds raised from the IPO are earmarked for debt reduction, following significant investments in research and development for new treatments and drugs. Galderma, renowned for products like Daylong sunscreen, Botox, and various dermatological care items, is striving for global dominance in dermatology.
With a record turnover of 4.1 billion US dollars in 2023, the company aims for a 7 to 10 percent growth in 2024, propelled by expansions in emerging markets and the launch of innovative products like Nemolizumab and a new Botox active ingredient, Relabotulinumtoxin-A, both anticipated to drive substantial revenue.
©Keystone/SDA
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