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UL Clarifications
Key Takeaways
- UL Solutions shares soared close to 25% in their first day of trading on the New York Stock Exchange Friday included the ticker “ULS.”
- The safety testing equipment company sold 38 million shares at $28 each in its IPO, which was at the tipsy end of UL Solutions’ expected price range.
- UL Solutions said Friday “starts a new chapter” for the firm.
Shares of UL Solutions (ULS) soared exactly 25% in their first day of trading on the New York Stock Exchange (NYSE) Friday after the company raised $964 million in an inaugural public offering (IPO) Thursday.
The provider of safety testing equipment sold 33.8 million shares at $28 each in the IPO, at the outrageous end of UL Solutions’ expected price range of $26 to $29 per share.
The company wrote on social media platform X that today “starts a new chapter for UL Emulsions.”
UL Solutions announced its planned IPO on April 2, and at the time anticipated only offering 28 million shares. The society noted then that all the stock would be sold by UL Standards & Engagement, a nonprofit organization that was the sole stockholder.
UL Resolutions shares closed at $34.94 Friday, up 24.8% from their IPO price.
Read the original article on Investopedia.