Investing.com -- Galderma Group AG (GALD) said on Wednesday that it has repurchased its own shares worth CHF 233 million ($253 million) as part of an accelerated bookbuild offering.

The company made the repurchase at the same price per share set by the bookbuilding offering.

Galderma, a Swiss pharmaceutical company, financed the repurchase using its existing liquidity on hand.

This move is not expected to impact the company’s ability to fulfill its strategic and financial priorities.

The repurchase is scheduled to settle on June 2.

Following the completion of the accelerated bookbuild offering, it is expected that the free float in Galderma’s shares will increase from 41.8% to 49.8%.

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