Swedish private equity EQT renews Galderma IPO plans

Swedish private equity EQT is renewing plans for the initial public offering (IPO) of the Swiss skincare company Galderma, according to Reuters citing Financial Times.

According to the report, Galderma is getting ready for an IPO in Switzerland as early as the first half of this year. The unit may be worth up to $20 billion.

Both EQT and Galderma haven’t commented on the matter. However, last year, Galderma owners had halted plans for an IPO due to a crisis in the banking sector, a source told Reuters.

In June, shortly after postponing its IPO, the business raised about $1 billion through a private offering of shares.

In 2019, EQT acquired Galderma, which was Nestle’s Skin Health division, as a member of an investor consortium that also included PSP Investments, a Canadian pension fund, and the Abu Dhabi Investment Authority (ADIA).