Westinghouse Electric Files Confidentially for IPO
The nuclear technology and services supplier has submitted a draft registration statement to the SEC for a proposed public stock offering.
Westinghouse Electric, a supplier of nuclear technology and services, has confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of its common stock. The company did not disclose the number of shares it plans to offer or the price range in its confidential filing.
The move indicates Westinghouse's intention to return to the public markets. The company has undergone several ownership changes in recent years. Brookfield Business Partners acquired Westinghouse in 2018, and it was subsequently taken private. Prior to that, Westinghouse filed for Chapter 11 bankruptcy protection in 2017.
Details surrounding the potential IPO remain limited due to the confidential nature of the filing. Companies often use this process to gauge investor interest and prepare for a public listing without public scrutiny of initial details. The SEC's review process can take several months, after which the company would publicly file its registration statement and potentially begin marketing the offering.