Eye care company Bausch & Lomb files for IPO
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)
- Tweet this
- Share this
- Digg this
- China's Xiaomi hopes Mi 4 smartphone can take on Apple
- Rebels likely downed Malaysian jet 'by mistake' - U.S. officials
- Nifty hits record high on foreign buying, higher Asian stocks
- Jet Airways chairman says looking to restructure debts, talking to bankers
- Italy gives Google 18 months to change data use practices
The Nifty rose to a record high on Wednesday, led by gains in blue-chips such as ICICI Bank on continued foreign-investor buying, while higher Asian shares also helped sentiment. Full Article
Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs Full Article
Jet Airways chairman says looking to restructure debts, talking to bankers Full Article
Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec Full Article
Supreme Court could allow Sahara boss to conduct asset sale talks, company says. Full Article
Five held in China food scandal probe, including head of Shanghai Husi Food Full Article