Copenhagen‑based Leo Pharma is beefing up its IPO team with big names. The century‑old drugmaker has added Goldman Sachs, Jefferies, UBS and DNB Carnegie to the roster already led by Danske Bank, JPMorgan and Morgan Stanley. The move signals a serious push toward a public listing later this year ahead of a market rebound expected after recent volatility.

Leo Pharma, which treats skin conditions, was valued at about €3 billion ($3.5 billion) including debt when Nordic Capital bought a minority stake in 2021. The company’s biggest shareholder, the Leo Foundation, sits on the board. Investors eye the deal for potential upside in a sector that has rebounded after pandemic lows as European markets recover from geopolitical tensions.

Adding Goldman Sachs and Jefferies expands the advisory circle, bringing breadth in underwriting and investor outreach. UBS and DNB Carnegie add regional expertise, while Danske, JPMorgan and Morgan Stanley provide deep Copenhagen market knowledge. The layered team reflects the company’s confidence that the city’s stock exchange can support a sizeable float before the end of the year.

With the expanded team, Leo Pharma signals readiness to move beyond speculation. Market watchers will scrutinize pricing, timing and the proportion of shares offered, as the company balances growth capital against shareholder dilution. The decision will shape Copenhagen IPO scene and set a benchmark for other European biotechs eyeing public markets in the near term ahead.