Westinghouse has confidentially filed for an IPO | Ukrainian News
Westinghouse Electric Company has confidentially filed documents for an initial public offering in the United States
Westinghouse Electric Company has confidentially filed for an initial public offering in the United States. The company announced this reported on Friday, July 31.
“The number of shares to be offered and the price range for the offering have not yet been determined and will depend on market and other conditions,” the statement said.
Westinghouse is one of the world’s leading suppliers of nuclear power technologies, including AP1000 reactors, nuclear fuel, and nuclear power plant maintenance services.
The companies are jointly owned by Canada’s Renewable Partners, one of the world’s largest renewable energy operators, and Cameco Corp., one of the world’s largest uranium producers and nuclear fuel suppliers. Under the agreement, finalized in 2023, Cameco agreed to acquire a 49% stake in Westinghouse for approximately $8 billion.
Westinghouse’s nuclear power technology is used in 57% of the world’s 417 nuclear reactors, and the company has up to 91 promising projects in its portfolio for its latest-generation reactor, according to in the announcement Cameco’s financial results, published concurrently with the announcement of the filing.
The filing comes as Cameco’s shares, which are traded on a U.S. stock exchange, have fallen by more than 30% from their all-time closing high in January, notes Bloomberg. On Friday, stocks fell by as much as 2.8%.
This year’s listing will mark the second U.S. debut for the company, which is backed by Canada’s Brookfield. Earlier this month, Csquare Inc., a major North American data center operator owned by Brookfield, raised $1.21 billion in its IPO, aided by a late $250 million contribution from affiliates.
This is a machine translation of the original article in Ukrainian. It may contain errors.
