Bausch & Lomb files for initial public offering with plans to list on NYSE under ticker “BLCO”

Bausch Health Cos. Inc. BHC, -0.56% filed an IPO for 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. Native Bausch Health is based in Montreal. The entity is one of two that Bausch Health plans to spin off into independently publicly traded companies, the second being skin care company Solta Medical. Morgan Stanley and Goldman Sachs are lead underwriters in a consortium of 20 banks working on the transaction. Bausch & Lomb, the company’s eye care business, reported net income of $182 million in 2021, up from a loss of $18 million a year earlier. Revenue increased to $3.737 billion from $3.381 billion. The deal comes as the Renaissance IPO ETF IPO, -2.68% year-to-date is down 22%, while the S&P 500 SPX, -0.63%, is down 3.4%.