Skin care company Galderma's shares soar on stock market debut [Reuters]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
Company Research
Source: Reuters
ZURICH, March 22 (Reuters) - Skin care company Galderma's (GALD.S) , opens new tab shares soared on Friday after the maker of cosmetic fillers and medical creams made its stock market debut in Switzerland. The company's shares started trading at 61 Swiss francs on the SIX Swiss Exchange, up 15% from the final price for its initial public offering (IPO) of 53 francs per share. The opening price gave Galderma a market capitalisation of 14.5 billion francs ($16.1 billion). Galderma's IPO, which was announced earlier this month, is likely to be one of the biggest in Europe this year . A successful debut could trigger other big flotations. Chief Executive Flemming Ornskov rang a giant cow bell as the opening price was announced at an event organised by the company at a business centre by Zurich airport. "Wow, what an event!" Ornskov said, as cheers broke out when the opening price was read out. "The good news is our future is even more exciting," the Danish executive said. "Bu
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