Freshfields advises on Galderma’s IPO worth up to CHF 2.3bn

Global law firm Freshfields Bruckhaus Deringer, with a team led by partner Simone Bono (Frankfurt/London, pictured) and included senior associate Shruti Dusaj (London) and associates John Haviland (Frankfurt) and Ahmed Yacourt (London, all Capital Markets), has advised the syndicate of underwriters, led by Goldman Sachs, Morgan Stanley and UBS as joint global coordinators, on the initial public offering of Galderma Group AG on the SIX Swiss Exchange. The IPO, which values Galderma at approximately CHF 15 billion (USD 17 billion), represents the largest IPO placement in Switzerland since 2017 and will likely to be one of the biggest in Europe this year.

The transaction, which is likely to raise CHF 2.3 billion (USD 2.6 billion), consisted of an issue of up to 46,839,534 registered shares (including over-allotment option), comprising the offer and sale of new and existing shares by Galderma and its selling shareholders (including affiliates / subsidiaries of EQT, GIC and ADIA).

Galderma is the pure-play dermatology category leader, delivering a portfolio of premium brands and services that span the full spectrum of dermatology.