Westinghouse confidentially files for US IPO

Westinghouse Electric Company, a major nuclear technology and services supplier, has confidentially filed a draft registration statement with the United States — United States Securities and Exchange Commission for an initial public offering of its common stock. The company, based in Cranberry Township, Pennsylvania, is jointly owned by Brookfield Asset Management (51%) and Cameco (49%), which acquired it in late 2023 in a deal valued at around $8 billion. The number of shares and price range have not yet been determined, and the offering is subject to market conditions. Westinghouse joins a wave of nuclear companies tapping public markets amid rising power demand from data centers. OVO Energy and Standard Nuclear have completed traditional IPOs this year, and Holtec Nuclear filed for a New York IPO earlier this month. Westinghouse also recently partnered with the U.S. Department of Energy to strengthen the nuclear supply chain, and its owners signed an agreement with the U.S. Department of Commerce to facilitate financing for at least $80 billion in nuclear reactors using Westinghouse technology.