the us initial public offering market is bracing for what is expected to be the secondbiggest deal of the year so far this week that of eyecare company bausch  lomb which is expected to raise up to 840 million at a valuation of more than 8 billion the company is offering 35 million shares priced at 21 to 24 each with 350000 shares expected to be outstanding after the offering the company would be valued at 84 billion at the top end of the price range the biggest deal so far was that of privateequity firm tpg inc tpg  which raised 1 billion in january some 30 years after launching under the name texas pacific group that company was valued at 9 billion also read the tpg ipo 5 things to know about privateequity firm valued at 9 billion the company is being spun out of healthcare company bausch health inc bhc and will list on the new york stock exchange and tsx under the ticker “blco” ” while it faces significant competition from other brands and generic products the company is highly profitable with strong cash flow and it has global brand awareness of more than 70” said renaissance capital a provider of ipo exchangetraded funds and institutional research in commentary morgan stanley and goldman sachs are the lead underwriters in a syndicate of 20 banks working on the deal proceeds will all go to the selling shareholder a wholly owned unit of bausch health according to the filing documents see also piano maker steinway is going public again 5 things to know ahead of its ipo the company blco had a net profit of 182 million in 2021 on revenue of 3765 billion that compares with the loss of 18 million on revenue of 3412 billion generated in 2020 bausch  lomb was founded in 1853 by john jacob bausch and henry lomb and started as a small optical goods shop in rochester new york “our mission is simple yet powerful helping you see better to live better” says the prospectus summary it has about 4200 employees at 24 facilities in 10 countries its research  development team number about 850 and they have introduced more than 260 new products since 2017 see ipo market outlook is ‘foggy’ heading into second quarter as falling returns at yearend and war in europe dampens risk appetite the company developed the world’s first soft contact lens it launched one of the first contact lens cleaning products introduced the first silicon hydrogel contact lens and brought a patented ocular vitamin to market according to the prospectus the global eyecare market was worth nearly 50 billion in revenue in 2019 it said and bausch  lomb is expecting it to grow at a compound annual growth rate of nearly 4 through 2025 to 632 billion that growth will be driven by factors including an aging global population the rapid growth of a middle class in emerging markets the increasing prevalence of diabetes and improving access to medical practitioners among others the company is one of two that bausch health is spinning off as it works to reduce a massive debt burden taken on when it was called valeant and went on a huge acquisition spree the second is solta medical which is bausch’s skin care business bausch health has about 227 billion in longterm debt according to factset rounding out this week’s ipo calendar are two other deals that of biotech pepgen and austin gold according to renaissance capital pepgen pepg  which is developing products aimed at treating neuromuscular and neurological diseases is seeking to raise up to 108 million to fund clinical trials and develop its pipeline austin gold is a miner with properties in nevada that is seeking to raise 13 million to fund exploration activities a handful of specialpurpose acquisition corporations or spacs may also price according to renaissance capital after joining the calendar let “blank check issuance has been on a steady decline since the start of the year driven by poor postmerger returns which have incited a wave of merger terminations and spac ipo withdrawals” said the commentary the renaissance ipo etf ipo is down 39 in the year to date while the sp 500 ipo has lost 14