UPDATE 1-Skin care company Galderma's shares open higher on stock market debut [Yahoo! Finance]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Yahoo! Finance
the SIX Swiss Exchange on Friday, up from the final price for its initial public offering of 53 Swiss francs per share. 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. With an implied placement volume of up 2.3 billion francs, it is also the biggest in Switzerland since smart meter maker Landis + Gyr raised a similar amount in 2017. Rising equity markets and the prospect of lower interest rates are helping to stoke investor interest in IPOs, although some companies have seen their shares drop after their debut. Galderma, originally set up as a joint venture between Nestle and L'Oreal, sells Cetaphil, a product for damaged and sensitive skin, as well as muscle relaxants, fillers and creams to treat medical problems for conditions like rosacea. The IPO, which consisted mainly of new shares, will generate gross proceeds of 2 billion francs, which the company ha
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