By Pablo Mayo Cerqueiro and Emma-Victoria Farr
LONDON/FRANKFURT (Reuters) – A strong debut by Swiss skincare company Galderma on Friday is steadying nerves around Europe’s IPO market, a day after a poorly received listing from German retailer Douglas, bankers said.
Galderma’s debut on the Zurich stock exchange marked Europe’s biggest IPO since Porsche in September 2022.
Its long-awaited listing comes as billions of dollars worth of European companies line up to go public.
Those hopes risked being dashed after shares in CVC-owned Douglas tumbled more than 12%.
Still, Galderma’s shares soared above their issue price in the first hours of trading, while overnight in New York social media company Reddit saw its stock jump more than 48%.
“Sentiment around IPOs continues to be positive globally and in Europe, and those deals that are being prepared for Q2 and H2 are expected to come as planned,” said Antoine de Guillenchmidt,…
