Norway's Sovereign Wealth Fund also interested? ULS to go public tonight with a valuation of $5.6 billion
The company's revenue in 2023 was $2.678 billion, with a compound annual growth rate of only 6.9% over the past 13 years
UL Solutions (ULS) IPO is priced at $28 per share, with a market value of $5.6 billion and a PE ratio of 21.5x.
ULS is a security services company that provides customers with independent Testing, Inspection, and Certification (TIC) services, as well as related Software and Advisory (S&A) products.
Performance: Average
The company had a revenue of $2.678 billion in 2023, with a compound annual growth rate of 6.9% over the past 13 years, showing long-term modest growth:
Source: Prospectus
Net profit in 2023 was $276 million, a 10% year-on-year decrease.
Revenue is mainly composed of four parts: Certification Testing (27%), Continuous Certification Services (33%), Non-certification Testing and Others (30%), Software (10%):
Source: Prospectus
The business scope is wide, covering various industries, not just limited to internet stocks:
Source: Official Website
Some significant developments in the software field since 2021:
Highlight: Interest from Norway's Sovereign Wealth Fund
Norway's Sovereign Wealth Fund, Norges Bank Investment Management, has expressed interest in purchasing $75 million worth of shares.
Source: Prospectus
Norway's Sovereign Wealth Fund is the world's largest sovereign wealth fund, with a current market value of 17.4 trillion Norwegian Krone (approximately $1.61 trillion USD) according to the official website's real-time information.
Due to the bullish trend in the US stock market, there have been several recent IPOs, including ALAB, Reddit, and yesterday's healthcare stock PACS, which rose by 9.5% on its first day of trading