Home / Business and Economy / Solar Firm SOLV Energy Eyes $5 Billion IPO
Solar Firm SOLV Energy Eyes $5 Billion IPO
31 Jan
Summary
- SOLV Energy aims for a $4.99 billion valuation.
- Company plans to raise up to $512.5 million.
- Shares will be offered between $22 and $25 each.
Solar and battery storage company SOLV Energy announced its intention to go public in the United States, targeting a maximum valuation of $4.99 billion. The San Diego-based firm plans to raise substantial capital through its initial public offering.
SOLV Energy aims to secure up to $512.5 million by offering 20.5 million shares. The anticipated price range for these shares is between $22 and $25 apiece. This move comes as IPO activity in the U.S. has shown signs of recovery following a period of reduced operations at the Securities and Exchange Commission.
The company is set to be listed on the Nasdaq stock exchange, where it will trade under the symbol "MWH." Jefferies and J.P. Morgan are serving as the joint lead book-running managers for this significant offering.
