Nuclear power pioneer Westinghouse Electric Company has taken the initial step toward going public by submitting a confidential Form S-1 draft registration statement to the U.S. Securities and Exchange Commission. The company was previously purchased in 2023 by Cameco (TSX:CCO; NYSE:CCJ) and Brookfield Renewable Partners (NYSE:BEP) in a US$7.9 billion transaction in 2023.
Tracing its origins back more than 140 years, Westinghouse stands among the leading names in the global nuclear power sector. Its historical milestones include constructing the first commercial pressurized water reactor on record, located in Shippingport, Pennsylvania.
Data from the company’s official website indicates that nearly 50% of the nuclear reactors in operation today rely on Westinghouse technology. That footprint is poised to expand further following a 2025 term sheet agreement, which established a framework for the US government to direct at least US$80 billion toward new nuclear reactors utilizing Westinghouse innovations.
Specifics regarding the total valuation, share quantity and target price range for the planned initial public offering have not yet been disclosed, according to Friday’s announcement.
About Cameco
Cameco is one of the world’s largest providers of uranium fuel, a leadership position driven by low-cost operations, investments across the nuclear fuel cycle and the company’s ownership of the world’s largest high-grade uranium reserves.
Cameco stock (TSX:CCO; NYSE:CCJ) is down by 1.95 per cent on the news trading at C$121.15 as of 11:29 am ET. The stock has appreciated by 16.46 per cent year-over-year and by 445.97 per cent since 2021.