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Highlights
- Bausch + Lomb is a wholly-owned subsidiary of Bausch Health Companies.
- Bausch Health (BHC) is expected to hold around 90 per cent of the BLCO stock.
- The BLCO stock is expected to be listed on the NYSE and TSX.
Laval-based eye health products company Bausch + Lomb Corporation said on Thursday, April 28, that it aims to go public in the United States and Canada.
Bausch + Lomb announced the terms of its initial public offering (IPO) and said it would offer 35 million common shares. The underwriters will get an option of purchasing an additional 5.25 million common shares of Bausch + Lomb within 30 days.
The eye health products company is a wholly-owned subsidiary of Bausch Health Companies Inc. (TSX:BHC), and reports of its IPO plan had started surfacing last year.
Key terms of Bausch + Lomb IPO:
The company expects to list its common shares on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE). Bausch + Lomb looks to trade under the stock symbol BLCO on both the stock exchanges.
The common shares were priced between $21 to $24 per share, and Bausch + Lomb won't receive any gross proceeds from its public debut. Bausch Health is expected to hold around 90 per cent of the BLCO stock.
Bausch + Lomb has filed an amended prospectus with the Securities and Exchange Commission in the United States and a second amended preliminary base PREP prospectus with authorities in every province and territory of Canada, excluding Quebec.
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The leading joint underwriters of the Bausch + Lomb IPO would be Goldman Sachs & Co. LLC and Morgan Stanley. Meanwhile, the supporting underwriters include Wells Fargo Securities, Loop Capital Markets, and BofA Securities.
Bottom line
As per the official statement, Bausch + Lomb is one of the leading companies in the eye health business and holds a comprehensive portfolio of over 400 products like contact lenses, ophthalmic pharmaceuticals, and other eye care products.
Bausch + Lomb was established in 1853, and it has expanded over the year. The eye health products market has 12,000 employees spread over 100 countries.
The listing date is not out yet. However, the IPO could happen soon if it gets approval from regulatory authorities in both countries.
The BLCO stock is expected to be listed on the NYSE and TSX, and once it is available for trading, retail investors could use the trading apps to buy the stock. Alternatively, a registered stockbroker may help an investor get hold of the Bausch + Lomb stock.
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Please note, the above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
