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UL Solutions Targets $5 Billion Valuation in 2024 IPO

Testing company pushes back listing amid choppy markets
UL Solutions working with JPMorgan, Goldman on IPO plans

Trading On The Floor Of The NYSE As U.S. Stocks Little Changed While Energy Slump Offsets Earnings — Photographer: Michael Nagle/Bloomberg

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By Ryan Gould and Vinicy Chan

November 28, 2023 at 4:27 PM UTC

This article is for subscribers only.

UL Solutions Inc. is targeting a valuation of $5 billion or more in an initial public offering that’s been pushed back to 2024, a person with knowledge of the matter said.

The company, which said in October it had filed confidentially for an IPO, has decided to postpone its listing plans until next year because of choppy markets, according to the people familiar with the matter.