Laval, Que.-based Bausch Health Companies’ eye-health spin-out listed shares on the New York and Toronto Stock Exchanges at US$18 each, raising US$630 million if the over-allotment option is not exercised. (The Logic)
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Laval, Que.-based Bausch Health Companies’ eye-health spin-out listed shares on the New York and Toronto Stock Exchanges at US$18 each, raising US$630 million if the over-allotment option is not exercised. (The Logic)
Talking point: The company had planned in late April to price shares between US$21 and US$24 each. The stock was up as much as 7.9 per cent in first-day trading. The parent company also plans to spin off its skin-care business, Solta Medical, which filed for an IPO in February. The Bausch + Lomb IPO was seen as a test for the U.S. public markets, which had a weak start this year after a record-breaking 2021. In Canada, there’s been a similar pattern: a record 152 IPOs on the Toronto Stock Exchange in the first 11 months of 2021, followed by a first-quarter freeze and weak share performance from much of the 2021 class. The TSX saw its first IPO above $150 million this year when Dream Residential Real Estate Investment Trust closed its US$125-million offering today.
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