A trio of shareholders in Galderma Group AG led by EQT AB are looking to sell an 8.4% stake in the Swiss skincare company, the latest selldown in a stock that has soared on the back of high demand for beauty products.
The investors, which also include the Abu Dhabi Investment Authority and Auba Investment Pte, are offering about 20 million shares through an overnight placement, according to terms seen by Bloomberg. The shares are expected to be sold at 130 Swiss francs each, a 6.9% discount to Monday’s close, the terms showed, resulting in proceeds of about 2.6 billion francs ($3.3 billion).