Bausch + Lomb Corp. is expected to price its IPO at the low end of expectations later Thursday in the latest sign of the challenges whipsawing stock prices pose for the new-issue market.
On Thursday, as the stock market tumbled, bankers on the deal told prospective investors the stock will likely be priced at the low end or below the targeted range of $21-to-$24 a share, according to people familiar with the matter. The company has been aiming to raise as much as $840 million ahead of its expected listing Friday, according to a regulatory filing.
It had already curtailed its forecast valuation to some $8 billion or less than half of prior expectations, some of the people said.
The debut of the eye-care company, a spinoff of
Cos., is being closely watched as a bellwether for the IPO market, which…
