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Westinghouse Eyes $50 Billion IPO
20 Sep
Summary
- Westinghouse Electric Co. targets over $50 billion valuation for IPO.
- Brookfield Renewable and Cameco Corp. jointly own the reactor technology provider.
- The company aims for a public filing as soon as October.
Westinghouse Electric Co., a prominent provider of reactor technology for nuclear power plants, is preparing for a substantial initial public offering in the United States. The company is aiming for a valuation of more than $50 billion, according to sources familiar with the matter. Westinghouse is jointly owned by Brookfield Renewable Partners and Cameco Corp.
People close to the situation indicated that Westinghouse is targeting a public filing as soon as October, though details and timing remain subject to change. This potential listing follows a confidential filing made in July. Major financial institutions including Citigroup Inc. and Goldman Sachs Group Inc. are leading the IPO, with Canadian Imperial Bank of Commerce, JPMorgan Chase & Co., and Royal Bank of Canada also involved.
The IPO landscape has seen varied success recently. While some companies tied to AI infrastructure have seen investment, many have faced aftermarket struggles. Specifically within the nuclear sector, Standard Nuclear Inc. and X-Energy Inc. have seen their share prices decline below their IPO prices, and Holtec Nuclear Corp. recently postponed its planned offering.
