Galderma’s IPO Success Signals Growth
THE WHAT? Galderma’s shares jumped 20.75 percent on their first trading day on the SIX Swiss Exchange, closing significantly higher than their IPO price, marking one of Europe’s largest IPOs this year. This success positions Galderma with the largest IPO placement volume in Switzerland since 2017, reflecting robust market interest.
THE DETAILS The global IPO market is currently buoyed by strong equity markets and low interest rates, with companies in the beauty industry like Spain’s Puig and Brazil’s Natura & Co. considering going public. Galderma, with its rich history starting as a joint venture between L’Oréal and Nestlé, has established a significant global footprint in the skincare sector.
THE WHY? After changing ownership from Nestlé to EQT Partners and the Abu Dhabi Investment Authority, Galderma has continued to grow, boasting a presence in over 90 countries and achieving a notable increase in sales in 2023. The company anticipates further growth in sales for 2024, highlighting its strong market performance and future potential.
