The issued share capital of Galderma Group AG (“Galderma”) comprises of 237,897,635 registered shares, of which 37,233,708 newly issued registered shares together with 276,909 existing registered shares were offered in the IPO. At an issue price of CHF 53.00 per registered share, the placement volume was around CHF 2.0 billion (excluding over-allotment option). In addition, shareholders offered up to 5,626,592 existing registered shares as part of an over-allotment option, which can be exercised within 30 calendar days after the first trading day at SIX. This represents the largest IPO placement in Switzerland since 2017.
Galderma intends to use the proceeds from the sale of newly issued registered shares in the offering primarily to strengthen its balance sheet by repaying and refinancing debt. Galderma will be included in the Swiss Performance Index (SPI) and its sub-indices on its 2nd trading day, i.e., 25 March 2024.
Flemming Ørnskov, M.D., MPH, Chief Executive Officer of Galderma, says: “As the newest member of SIX Swiss Exchange, I am proud that Galderma’s IPO has been such a success. Galderma has continually developed its market leading position by advancing dermatology for every skin story. As we begin trading today, I want to thank every single person in our business for their unwavering commitment over the years - without it, Galderma wouldn’t have achieved the success we have to date. We have a great future ahead of us as a listed company delivering cutting-edge, premium products to our customers across the full spectrum of dermatology through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology.”
Jos Dijsselhof, CEO SIX, emphasizes: “We are delighted to welcome Galderma to the SIX family. With this new addition, we are further strengthening our position as the leading go-to exchange in Europe for companies at the intersection of consumer and healthcare. I wish Galderma every success as a public company and look forward to partnering with Galderma on their future capital market endeavors.”
About Galderma
For more information about Galderma: www.galderma.com.