On 22 March 2024, the shares of Galderma Group AG, a pure-play dermatology category leader, were listed and started trading on SIX Swiss Exchange at a price of CHF 53 per share. Based on the offer price, Galderma’s implied market capitalization was CHF 12.6 billion. During the IPO, the syndicate banks successfully placed 37,233,708 newly issued registered shares, as well as 276,909 existing registered shares offered by one of Galderma’s shareholders, Sunshine SwissCo AG (EQT). EQT, together with certain of Galderma Group AG’s other shareholders, granted a secondary over-allotment option of up to 5,626,592 existing registered shares, which was exercised in full. The total placement volume was CHF 2.3 billion. On 25 March 2024, Galderma was granted inclusion to SPI, SPI Extra, SPI ex Swiss Leader Index, SXI Life Sciences, UBS 100 and Ethos Swiss Corporate Governance. Galderma raised gross proceeds of CHF 2.0 billion from the offering, and intends to use the proceeds primarily to strengthen its balance sheet by repaying and refinancing debt.