Galderma acquires stock interest as shareholders sell indicating interest in premium skin care

Shareholders of Swiss skin care company Galderma are selling a 6.7% stake valued at approximately ₣1.28 billion (US$1.34 billion), according to documents obtained by Reuters and Bloomberg.

Abu Dhabi Investment Authority and Auba Investment increased the size of the offering to 16 million shares after investor demand oversubscribed the available shares multiple times. 

The investors set the share price at ₣80 (US$84.43). In the past three months, this is the second offering of Galderma shares, which owns Cetaphil and Alastin. Stakes were previously sold in September, raising approximately ₣1.1 billion. In August, L’Oreal agreed to acquire a 10% stake from the group of shareholders.

Bloomberg reports that the recent deal received orders at that price to cover the number of shares available multiple times, reflecting public interest in Galderma’s growth and skin care investment. 

Shares in Galderma have risen 62% since its initial public offering (IPO) in March. It was Europe’s second-largest IPO this year, with a US$2.6 billion listing. 

Beauty business

In recent beauty company stock news, investment firm Muddy Waters’ accused E.L.F. Beauty of overstating its revenue over the past three years by as much as US$190 million, but E.L.F. called the statement an attempt to negatively influence its share price for “its own benefit.”

Shares in the beauty brand fell 10% on the day after the false reporting allegations but rose following the release of its rebuttal statement. 

Meanwhile, dsm-firmenich sold all of its ordinary shares in Robertet to the Fonds Stratégique de Participations, Peugeot Invest and one unknown investor. Robertet manufactures natural raw materials for perfumes and aromas.

The company describes the unnamed investor as “long-term” and “non-institutional.” Robertet was released through a bilateral sale subject to a 60-day lockup undertaking.