Niederer Kraft Frey AG | View firm profile
Niederer Kraft Frey advised a syndicate of 15 banks, led by Goldman Sachs, Morgan Stanley and UBS as joint global coordinators, in connection with the initial public offering of Galderma Group AG that launched on 13 March 2024.
The Offering consists of up to 40,453,467 newly issued shares and up to 276,909 existing shares sold by one of Galderma’s shareholders, Sunshine SwissCo AG (“EQT”), with an over-allotment option of up to 6,109,158 existing registered shares granted by EQT together with the Abu Dhabi Investment Authority and Auba Investment Pte. Ltd. Based on the offer price range between CHF 49 and CHF 53, resulting in an offer size of approximately CHF 2.3 billion (assuming the over-allotment option is exercised in full), the implied market capitalisation of Galderma is estimated to be between CHF 11.8 billion and CHF 12.6 billion. The listing and the first day of trading are expected to take place on 22 March 2024.
The NKF team is led by Corporate/Capital Markets partners Philippe Weber and Deirdre Ní Annracháin, working with partner Thomas Brönnimann, associate Thiago Claro Freixo and junior associate Carlotta Ulmer (all Corporate/Capital Markets), as well as partner Markus Kronauer (Tax).