: Testing, inspection and certification company UL Solutions files for IPO , plans to list on NYSE
UL Solutions Inc., a company that bills itself as a safety science player, filed for an initial public offering in Monday with plans to list on the New York Stock Exchange under the ticker “ULS.” “We are a global safety science leader that provides independent testing, inspection and certification (“TIC”) services and related software and advisory (“S&A”) offerings to customers worldwide,” the company says in its filing documents. No terms were yet disclosed, but Goldman Sachs and JP Morgan are leading a team of 11 banks underwriting the deal. The company is planning a dual class structure with Class A shares that will carry one vote, and Class B shares that will come with 10 votes. The company had net income of $214 million in the first nine months of the year, down from $227 million a year ago. Revenue rose to $1.99 billion from $1.89 billion a year ago. The Renaissance IPO ETF IPO has gained 28% in the year to date, while the S&P 500 SPX has gained 15%.
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