Holtec Nuclear to raise up to $900 million through IPO

American nuclear technology company Holtec Nuclear is preparing to go public. As part of its IPO, the company plans to raise up to $900 million, with its valuation potentially reaching $10.2 billion.

Holtec will offer investors 50 million shares. The estimated price per share will range from $15 to $18. The company will list on Nasdaq and Nasdaq Texas under the ticker HNUC.

Founded in 1986, Holtec manufactures equipment needed for nuclear reactors, works on nuclear waste storage, and participates in the decommissioning of closed plants.

Holtec plans to restart the 800-megawatt Palisades nuclear power plant in Michigan. If the project is completed successfully, Palisades will become the first commercial nuclear plant in the US to resume operations after being shut down.

Interest in nuclear energy has grown recently in the US. One reason is the rapid growth of data centers, which require large amounts of electricity.

Source: Reuters