Key Takeaways
- UL Solutions shares soared close to 25% in their first day of trading on the New York Stock Exchange Friday under the ticker “ULS.”
- The safety testing equipment company sold 38 million shares at $28 each in its IPO, which was at the high end of UL Solutions’ expected price range.
- UL Solutions said Friday “starts a new chapter” for the firm.
Shares of UL Solutions (ULS) soared nearly 25% in their first day of trading on the New York Stock Exchange (NYSE) Friday after the company raised $964 million in an initial public offering (IPO) Thursday.
The provider of safety testing equipment sold 33.8 million shares at $28 each in the IPO, at the high 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 Solutions.”
UL Solutions announced its planned IPO on April 2, and at the time anticipated only offering 28 million shares. The company noted then that all the stock would be sold by UL Standards & Engagement, a nonprofit organization that was the sole stockholder.
UL Solutions shares closed at $34.94 Friday, up 24.8% from their IPO price.
