Product testing company UL Solutions' prices rose slightly above the midpoint of $28 in its IPO

UL Solutions, a provider of product testing, inspection and certification services, raised $946 million by offering 33.8 million shares (100% secondary) at $28, slightly above the midpoint of the 26-to-12 range 29 US dollars. The offering included 5.8 million shares more than expected.

UL Solutions is a global safety science company providing independent testing, inspection and certification (TIC) services and related software and consulting (S&A) offerings. Its TIC business consists of two segments, Industrial and Consumer, which provide comprehensive services to customers in a broad range of end markets. Its S&A business enables clients to manage complex regulatory requirements, create supply chain transparency and operationalize sustainability. UL Solutions says it is the largest TIC service provider based in North America by revenue, serving over 80,000 customers in more than 110 countries in 2023.

UL Solutions plans to list on the NYSE under the symbol ULS. Goldman Sachs, JP Morgan, BofA Securities, Citi, Jefferies and UBS Investment Bank acted as joint bookrunners on the transaction.