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Alcon IPO raises $2.3B
Nestle unit sells 69.75 million shares at $33 each via CSFB, Merrill.
March 20, 2002: 7:09 PM EST

NEW YORK (CNN/Money) - The initial public offering of Alcon Inc., which is being spun out by Nestle, raised $2.3 billion late Wednesday.

Alcon sold 69.75 million shares at $33 each, the mid-point of its $31-to-$35 price range, via lead underwriters Credit Suisse First Boston and Merrill Lynch.

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Hunenberg, Switzerland-based Alcon is the largest maker of eye care products in the world based on sales. The company focuses on three product areas: pharmaceutical, surgical, and contact lens and vision care.

The company is currently a unit of food conglomerate Nestle. After the IPO, Nestle will own about 75 percent of Alcon common shares, if underwriters on the deal exercise their over allotment option to buy 7 million shares.

Nestle plans to hold all of the Alcon shares it owns for at least two years following the offering, the company said in a filing with the Securities and Exchange Commission.

Alcon plans to trade under the ticker "ACL" on the New York Stock Exchange.  Top of page


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.