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.

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.