Cosmo Pharmaceuticals SpA, an Italian drugmaker listed in Switzerland, plans to sell a stake in its dermatology unit for more than 100 million francs ($107 million).
The initial public offering for Cassiopea will probably occur in coming weeks, and Cosmo expects to surpass that figure, Chief Financial Officer Christoph Tanner said in an interview.
“I would fire myself and everybody else if we go to the market for only 100 million francs,” he said.
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