Eye care company Bausch & Lomb files for IPO

Sat Mar 23, 2013 7:06am IST

Related Topics

REUTERS - Eye care company Bausch & Lomb Holdings Inc, owned by private equity firm Warburg Pincus, filed with U.S. regulators to raise upto $100 million in an initial public offering.

The proposed IPO could raise as much as $1.5 billion and is expected to value Bausch & Lomb at about $9 billion to $10 billion, Reuters reported earlier in March.

In a filing with the U.S. Securities and Exchange Commission on Friday, the company said J.P.Morgan, BofA Merrill Lynch and Citigroup were the lead underwriters of the offering. (link.reuters.com/keh86t)

Warburg Pincus continues to explore a private sale of the company and is working with Goldman Sachs to find a buyer, a source had told Reuters.

Founded in 1853, Rochester, New York-based Bausch & Lomb makes contact lenses, eye drugs and surgical equipment and sells its products in more than 100 countries.

It was taken private by Warburg Pincus in 2007 for about $4.5 billion, including $830 million of debt, after it fell out of Wall Street's favor because of product recalls, big charges and restatements of earnings. Warburg Pincus committed over $1 billion of equity toward the buyout.

The filing did not reveal how many shares would be on sale or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Jochelle Mendonca in Bangalore; Editing by Supriya Kurane)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

 G20 Meet

G20 Meet

As G20 chases growth goal, members differ on how to get there   Full Article 

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage