- Wisconsin-based Clarios will sell nearly 88.1 million shares between $17 and $21 each, which would rake in $1.85 billion at the top end of that range
- Entities affiliated with Brookfield and CPDQ will continue to hold 80.1% of shares in Clarios after the offering, the company has said
As per a report by Reuters, Clarios International is aiming for a valuation of up to $10.7 billion in its U.S. offering, it said. Milwaukee, Wisconsin-based Clarios will sell nearly 88.1 million shares between $17 and $21 each, which would rake in $1.85 billion at the top end of that range.
The company, which Reuters earlier reported was aiming to be valued at around $20 billion, had confidentially filed for a listing in May. The report added that Brookfield bought Clarios in 2019 from Johnson Controls International, a maker of digital solutions for buildings, for $13.2 billion.
Clarios is also backed by one of Canada’s biggest state pension investors, Caisse de depot et placement du Quebec (CPDQ).Entities affiliated with Brookfield and CPDQ will continue to hold 80.1 per cent of shares in Clarios after the offering, the company has said. The report added that Clarios will start trading on the New York Stock Exchange under the symbol “BTRY”. BofA Securities and J.P. Morgan are the lead underwriters for the offering.
