Westinghouse Seeks $50 Billion Valuation for U.S. IPO

Westinghouse Electric Co. is seeking a valuation of more than $50 billion for its planned initial public offering in the United States. The nuclear technology company, jointly owned by Brookfield Renewable Partners and Cameco Corp., may publicly file for the IPO as early as October following a confidential filing in July.

Citigroup and Goldman Sachs are leading the offering, supported by JPMorgan Chase, Royal Bank of Canada, and Canadian Imperial Bank of Commerce. The target valuation represents a significant increase from the $8 billion valuation associated with Cameco's acquisition of a 49% stake in the company in 2023.

The move comes as global demand for nuclear energy increases to meet electricity needs and energy security goals. Westinghouse technology currently powers 57% of the world's 417 nuclear reactors.