(Bloomberg) -- 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.
UL is working with JPMorgan Chase & Co. and Goldman Sachs Group Inc. on its IPO, Bloomberg News has reported. Deliberations are ongoing and no final decisions on the size or timing of a listing have been made, the people said, asking not to be identified discussing confidential information.
The decision by UL to push its IPO into 2024 was reported earlier on Tuesday by The Wall Street Journal. A representative for Northbrook, Illinois-based UL declined to comment.
UL joins a burgeoning pipeline of IPO candidates eying possible 2024 debuts. Others include social media company Reddit, Singapore-based fashion retail giant Shein and Kim Kardashian’s Skims.
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