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Bausch + Lomb Misses Target With IPO Raising $630 Million

  • Company’s shares sell for $18 each, below $21 to $24 range
  • Bausch Health also planning to spin off skin-care unit Solta
Updated on

Canada’s Bausch + Lomb Corp. priced its initial public offering below a marketed range to raise $630 million, dimming hopes that the biggest U.S. listing in almost four months will lead a market rebound.

Bausch + Lomb, the first of two businesses being spun out by Bausch Health Cos., was seen as a test of whether a stable, profitable business could help break the ice for dozens of startups considering IPOs. The companies went ahead with the IPO despite the Dow Jones Industrial Average experiencing its biggest one-day drop since 2020.