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Galderma Investors Reap 180% IPO Gain
12 Mar
Summary
- Three Galderma shareholders achieved over a fourfold return.
- A $6.3 billion share sale marked the final exit for major investors.
- Galderma shares surged over 180% since their March 2024 IPO.
A trio of investment firms, including EQT AB, Abu Dhabi Investment Authority, and GIC Pte, have successfully concluded their investment in Swiss skincare company Galderma Group AG, achieving a return of more than four times their initial stake. This week's final share sale, valued at 4.89 billion Swiss francs ($6.3 billion), completed the "Project Indigo" exit plan. The transaction was reportedly expanded twice due to high investor demand.
These shareholders had been divesting their holdings through Galderma's initial public offering in March 2024, subsequent placements, and bilateral sales. The cumulative proceeds for the three investors now exceed 20 billion francs. The consortium originally acquired Galderma from Nestle SA in 2019 for 10.2 billion francs. Following an IPO that raised $1 billion in 2023 to reduce debt, Galderma successfully listed in Switzerland.
Since its public debut, Galderma's stock has surged by more than 180%. This remarkable growth is attributed to the company's strong financial performance and the popularity of its products, such as Cetaphil creams and Nemluvio. Earlier, a significant 20% stake was sold to L'Oreal SA, which is now Galderma's largest shareholder.
