Safety testing company UL Solutions surges about 23% in strong NYSE debut

UL Solutions

12/04/2024 18:44

** Shares of safety testing company UL Solutions  ULS.N 
surge as much as 22.9% in its New York Stock Exchange debut on
Friday
    ** Illinois-based ULS opened at $34/shr vs $28/shr IPO price
and traded as high as $34.40/shr
    ** Co's parent UL Standards & Engagement raised $946.40 mln
in the offering by selling 33.80 mln shares priced at $28/shr,
which was at the higher end of its marketed range
    ** ULS tests the safety of industrial and consumer products
    ** At stock's current level of $33.50/shr, UL Solutions has
a market value of $6.70 bln
    ** ULS competes with European giants Intertek  ITRK.L ,
Bureau Veritas  BVI.PA , SGS  SGSN.S , and Eurofins  EUFI.PA    

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))