Wed, Mar 13th 2024
Galderma gears up for its Swiss stock exchange debut with a promising IPO, aiming to raise nearly 2 billion Swiss francs through new shares.
As announced at the beginning of March, the skin care group Galderma wants to go public on the Swiss stock exchange. The company has now communicated further details. The shares are expected to be traded on the SIX Swiss Exchange for the first time on March 22, 2024.
As part of the initial public offering (IPO), Galderma will carry out a capital increase and create up to 40.5 million new shares, as the Group announced on Wednesday.
With an issue price in the range of 49 to 53 Swiss francs per share, these are expected to raise gross proceeds of just under 2 billion Swiss francs for the company.
In addition, the existing shareholder intends to offer a further 276,909 shares. In addition, there is an over-allotment option for 6.1 million shares.
Including these, Galderma is expected to receive CHF 2.3 billion.
Based on the offer price range, the valuation of the Group is calculated to be between 11.8 billion and 12.6 billion Swiss francs. The free float after the IPO will be between 20.8 and 22.1 percent.
Galderma is owned by a consortium led by the Swedish private equity group EQT. The group will therefore remain an important shareholder after the IPO.
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