Is third Juno nom the charm for N.S.-raised music teacher? | SaltWire #junos #canada #musicteacherLONDON/FRANKFURT - 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.
The trading of these two private equity-owned firms was being closely watched by bankers and investors, after global IPO issues fell in 2023 for a second year. "Large private equity-backed transactions are a signal that IPO markets are receptive," said Markus Meier, head of ECM in Germany at Bank of America.Tank gear manufacturer Renk, the first newcomer to the Frankfurt Stock Exchange this year, has almost doubled its issue price of 15 euros since debuting in February. Its IPO was one of several postponed last autumn amid uncertainty around interest rates and geopolitical tensions.
EQT-backed Galderma raised around to 2 billion Swiss francs , with its shares opening at 61 francs on the SIX Swiss Exchange, up 15% from the IPO's final price of 53 francs per share, which was the top end of its indicated price range.To be sure, Douglas will have left a sour taste for those investors who have lost money and could be a drag for some IPO candidates.
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