Bausch + Lomb announces IPO
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Bausch + Lomb Corp. announced the launch of its initial public offering and roadshow for the IPO.
Bausch Health stated in a press release that it is offering 35 million common shares of its wholly owned subsidiary, Bausch + Lomb, with a 30-day option to purchase up to an additional 5.25 million common shares to cover any over-allotments.
The IPO price is expected to be between $21 and $24 per share, the company stated in the release. Bausch + Lomb has applied to list its common shares on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol, BLCO.
Bausch Health said Bausch + Lomb will receive no proceeds from the IPO, but expects that Bausch Health will hold about 90% of the common shares, or 88.5% if the underwriters’ over-allotment option is exercised in full.
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