One in three automobiles on the street globally makes use of a battery made by Clarios and its merchandise are utilized in greater than 140 international locations, in keeping with the corporate’s web site.
Car battery maker Clarios, backed by Canada’s Brookfield Asset Management Inc, mentioned on Wednesday it had confidentially filed paperwork with the U.S. Securities and Exchange Commission for an preliminary public providing.
The firm didn’t disclose different particulars in regards to the proposed providing.
The flotation of Clarios, which may very well be valued at over $20 billion in its IPO in keeping with an individual conversant in the matter, would mark one of many greatest inventory market debuts from the automotive sector this 12 months.
Electric-vehicle maker Lucid Motors struck a $24-billion merger cope with a blank-check agency in February, whereas one other high-flying startup Rivian can also be lining as much as go public later this 12 months.
Brookfield had purchased Glendale, Wisconsin-based Clarios in 2019 from Johnson Controls International, a maker of digital options for buildings for $13.2 billion, in one of many greatest offers clinched by the asset supervisor.
One in three automobiles on the street globally makes use of a battery made by Clarios and its merchandise are utilized in greater than 140 international locations, in keeping with the corporate’s web site.
Clarios can also be backed by Caisse de depot et placement du Quebec (CDPQ), certainly one of Canada’s greatest state pension buyers.
