Galderma Worth More than $16B Following IPO

Galderma sells skin care brand Cetaphil.
Galderma sells skin care brand Cetaphil.

In its IPO debut, Galderma's stock shares jumped as much as 18% above its IPO price, rendering the company worth more than $16 billion.

Per Reuters, the "IPO could be one of biggest in Europe this year."

Earlier this month, Galderma has announced it would file an initial public offering on the SIX Swiss Exchange.

According to Reuters, the brand planned to raise about $2.3 billion in a flotation on the Swiss stock exchange.

The publication reported that the IPO would consist of  mainly of new shares. A small portion of existing shares were to be sold by Swedish private equity firm EQT, which owns Galderma alongside Singapore's GIC and the Abu Dhabi Investment Authority.

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