THE WHAT? EQT has pushed back the planned IPO of its skin care line, Galderma, over fears of recession and market volatility, according to a report published by Reuters.

THE DETAILS The flotation on the Zurich stock exchange was supposed to go ahead earlier this year but has now been postponed until autumn at the earliest.

THE WHY? Thought to be Switzerland’s biggest IPO this century, the deal was delayed in April as a result of the war in Ukraine and is one of many similar transactions put on ice following Russia’s invasion of the country, which has caused investor morale to plummet.