Skincare company Galderma was on course to raise 2.3 billion ($2.6 billion) Swiss francs from its upcoming initial public (IPO) offering after a positive response from potential investors. The company, whose products includes Cetaphil, a product for damaged and sensitive skin, as well as fillers and skin creams, early on Wednesday announced a price range of 49 to 53 Swiss francs for its flotation - likely to be one of the biggest in Europe this year. The offering consists of up to 40.5 million new shares and 277,000 existing shares, the company said.
The Starbucks Pumpkin Spice Latte contributed to and benefited from a seasonal market now worth over $800 million.
Per the latest three month results from the company on April 25, Nestlé's North America raised prices by 12.4% year-over-year.