Nuclear technology and services supplier Westinghouse Electric has confidentially filed a draft registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
The Cranberry Township, Pa., company, which is jointly owned by Canada's Brookfield Asset Management and Cameco, said the number of shares it plans to offer and the price range for the proposed offering haven't yet been determined, adding that the offering is subject to market conditions.
The SEC's confidential IPO filing process lets regulators and companies engage in a back-and-forth dialogue about disclosures as they wrap up the paperwork.
Westinghouse and its owners last year signed an agreement with the Commerce Department that will see the U.S. government arrange financing and facilitate approvals for at least $80 billion in nuclear reactors powered by Westinghouse technology.
Brookfield, which owns 51% of Westinghouse, and Cameco, which owns the other 49%, acquired the company in late 2023 in a deal valued at around $8 billion.
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