ZURICH, March 13 (Reuters) - Skin care company Galderma on Wednesday announced a price range of 49 to 53 Swiss francs for its upcoming 2.3 billion Swiss francs ($2.6 billion) flotation.

The offering consists of up to 40.5 million new shares and 277,000 existing shares, said the company. The offer period will run from Wednesday and is anticipated to end on March 20, 2024.

There is also over-allotment option of up to 6.1 million existing shares, the Swiss company said, which if fully exercised will lead to an offer size of 2.3 billion Swiss francs.

The Swiss company's initial public offering, which could be one of the biggest flotations in Europe this year, was originally announced last week.

Chief Executive Flemming Ornskov said last week there had been significant interest in the flotation of the company, the main owners of which include Swedish private equity company EQT (EQTAB.ST) , opens new tab, Singapore's GIC and the Abu Dhabi Investment Authority (ADIA).

All three are expected to remain invested in the company, which will have an enterprise value - equity plus debt - of around $17 billion after the IPO.

A final offer price will be published on March 21, Galderma said.

The company said it expected to complete its listing and start trading in Switzerland on March 22.

($1 = 0.8776 Swiss francs)

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https://www.reuters.com/markets/deals/skin-care-company-announces-price-range-26-billion-flotation-2024-03-13/