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The company, which is solely owned by non-profit UL Standards & Engagement (ULSE), said on Tuesday its parent will sell 28 million shares between $26 and $29 each to raise up to $812 million.
The move comes at a time when the U.S. IPO market is on a rebound amid growing expectations of a soft landing for the economy.
Norges Bank Investment Management has indicated an interest in purchasing up to $75 million worth of shares of UL Solutions, the owner of “UL Mark”, a certification that a product complies with safety standards and has appeared on billions of products since 1906.
UL Solutions, which tests the safety of industrial and consumer products, competes with European giants Intertek, Bureau Veritas, SGS and Eurofins.
UL Solutions, which descended from a 130-year-old organization, will list on the New York Stock Exchange under ticker symbol “ULS”.
