Safety Firm UL Solutions Jumps 25% After $946 Million IPO
- IPO priced within marketed range, number of shares increased
- Norway’s wealth fund indicated interest in buying shares
UL Solutions Inc. shares climbed nearly 25% after the safety testing and inspection company’s expanded initial public offering raised $946 million, as the nascent recovery in listings continues to grow.
The Northbrook, Illinois-based firm’s shares closed at $34.94 each in New York trading Friday after selling for $28 in the IPO. UL Standards & Engagement, a nonprofit that was the company’s sole stockholder, increased the size of the IPO on Thursday to 33.8 million shares, according a statement. UL Solutions has a market value of about $7.2 billion.