Bausch & Lomb files for IPO with plans to list on NYSE under ticker 'BLCO'

Bausch Health Cos. Inc. filed for an initial public offering of its Bausch & Lomb Corp. unit on Thursday, with plans to list on the New York Stock Exchange, under the ticker "BLCO." The shares will also be listed on the Toronto Stock Exchange under the same ticker. Parent Bausch Health is based in Montreal. The unit is one of two that Bausch Health is planning to spin off into independently listed companies, the second being its skin care company Solta Medical. Morgan Stanley and Goldman Sachs are lead underwriters in a syndicate of 20 banks working on the deal. Bausch & Lomb, the company's eyecare business, had net earnings of $182 million in 2021, after a loss of $18 million the year earlier. Revenue climbed to $3.737 billion from $3.381 billion. The deal comes at a time when the Renaissance IPO ETF is down 22% in the year to date, while the S&P 500 has fallen 3.4%.

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