Westinghouse Seeks $50B Valuation in Upcoming US IPO

Westinghouse Electric is gearing up for a major initial public offering (IPO) in the US, aiming to reach a valuation of over $50 billion. According to Bloomberg, the company has set its sights on filing as early as October, but this timeline may be subject to change.

The IPO will be led by investment banks Citigroup and Goldman Sachs, with CIBC, J.P. Morgan Chase, and Royal Bank of Canada also involved in the listing. Westinghouse is jointly owned by Brookfield Renewable Partners (BEP) and Cameco (CCJ), which acquired a 49% stake in the company in 2023 for approximately $8 billion.

Westinghouse's nuclear power technology is utilized by 57% of the world's nuclear reactors, with a pipeline of up to 91 potential opportunities for its latest generation reactor. The company has recently been selected by the US Army as one of five firms to build, own, and operate its power plants.