The IPO process for Solta drew “substantial investor interest,” according to a statement released by Bausch Health. “However, the business is delaying its preparations for the IPO of Solta due to adverse market circumstances and other issues.”
“Solta will remain part of Bausch Health (NYSE: BHC) –7.14% and continue to contribute to the deleveraging of the company’s financial sheet,” Bausch Health stated. There are “other avenues” the company might take, it said.
Shares of Bausch Health (ticker: BSH) climbed around 3% after regular trading ended on Thursday, after falling by more than 73% so far this year. Last month, Bausch + Lomb (BLCO), the company’s eye care division, went public.
Since the Ukraine conflict, rising interest rates, and a grim economic outlook have prevented firms from going public, and the value of IPOs has fallen dramatically. According to Dealogic, the total value of IPOs has reached $85.7 billion globally so far this year, a decrease of 72% over the same time last year.