UL Solutions on Monday publicly filed its paperwork for a US initial public offering (IPO).
The company, which offers independent third-party testing, inspection, and certification services to its more than 80,000 customers in the energy, industrial automation, consumer electronics and other markets, is owned solely by UL Standards & Engagement (ULSE).
UL Solutions did not disclose details about the size of the offering but said owner ULSE would sell all the shares and UL Solutions will not receive any proceeds from the IPO, Reuters reported.
In its filing, the company revealed that its revenue for the nine months that ended September 30, 2023, was $1.99 billion, compared to $1.89 billion a year earlier, while it generated net income for the period of $214 million, compared with $227 million a year ago.
UL Solutions will list its shares on the New York Stock Exchange under the ticker symbol 'ULS'.
Goldman Sachs (NYSE:GS) and JPMorgan are among the underwriters for the offering.
Contact Sean at sean@proactiveinvestors.com