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.