Bausch + Lomb seeks US$840M in U.S. IPO of contact-lens maker
BNN Bloomberg
Bausch + Lomb, the company being spun out of Bausch Health, has filed to raise as much as US$840 million in an initial public offering
Bausch + Lomb Corp., the contact lens maker, has filed to raise as much as US$840 million in an initial public offering, a long-awaited deal that may show green shoots in U.S. capital markets.
The company being spun out of Bausch Health Cos. plans to sell 35 million shares for US$21 to US$24 apiece, according to a filing Thursday with the U.S. Securities and Exchange Commission. All of the proceeds from the IPO will go to Bausch Health as the selling shareholder, the filing shows.
At the top of the price range, Bausch + Lomb would have a market value of US$8.4 billion based on the outstanding shares listed in its filing.
The deal could ease the drought in the U.S. IPO market, which has been waiting for a large, stable company to list as investors pivot from pursuing growth to favoring cash flow.
Bausch + Lomb, based in Vaughan, Ontario, reported US$65 million in net income on US$3.8 billion in revenue on a pro forma basis in 2021. Founded in 1853 in Rochester, New York, the company owns brands including Ocuvite, PureVision and Biotrue.
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Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.