Galderma Backers Offer $1.45 Billion Stake in Upsized Deal
- EQT, ADIA, Auba pursue second share sale in under three months
- Shares in Swiss skincare group are up 62% from its March IPO
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Several Galderma Group AG shareholders are offering about a 6.7% stake in the skincare group that could raise around 1.28 billion Swiss francs ($1.45 billion), according to terms of the deal seen by Bloomberg News.
EQT AB, the Abu Dhabi Investment Authority and Auba Investment Pte told investors that it is poised to price at 80 Swiss francs per share, and increased the size of the offering to 16 million shares, the terms showed. The deal has received orders at that price to cover the number of shares available multiple times over, according to a message seen by Bloomberg.