Swiss skin care company Galderma has set a final price for its initial public offering (IPO) at CHF53 Swiss francs (US$59.86) per share, at the top of its announced range.
Galderma shares will be listed and start trading on the Swiss Exchange on 22 March, with the firm’s pricing implying a market capitalisation of CHF12.6bn.
Galderma’s CEO, Flemming Ornskov, called the listing a major milestone for the business and said he had been delighted by the “overwhelmingly positive demand”.
Established in 1981 as a joint venture between L’Oréal and Nestlé, Galderma became an independent company in 2019.
It specialises in injectable aesthetics, dermatological skin care and therapeutic dermatology, with a portfolio including brands like hyaluronic acid filler Restylane and sensitive skin care brand Cetaphil.
According to Galderma, this latest move is a strategic decision to broaden its shareholder base.
In a statement, it said it intends to use the proceeds to strengthen its balance sheet by repaying debt and further accelerate organic growth momentum.