Bausch + Lomb eyes valuation of $8.4 billion in Canada, U.S. IPO

(Reuters) -Eye care products maker Bausch + Lomb Corp on Thursday sought a valuation of $8.4 billion in its dual listing in Canada and the United States.

The company, whose existing shareholders plan to sell 35 million shares at between $21 and $24 per share through the initial public offering, will not receive any proceeds from the sale.

The company’s revenue rose to $3.76 billion in the year ended Dec. 31, from $3.41 billion last year, it said in the filing here.

The 169-year-old company was first listed on NYSE in 1958 but was taken private in 2007, when it was acquired by New York-based private equity firm Warburg Pincus.

Bausch + Lomb, which started as a small optical goods shop in New York in 1853, currently supplies branded and generic pharmaceuticals, contact lenses as well as lens care products in more than 90 countries.

Morgan Stanley, Goldman Sachs, Citigroup and JPMorgan Chase & Co are among the underwriters.

The company will list under the symbol “BLCO” on the New York Stock Exchange and the Toronto Stock Exchange.

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