A potential Westinghouse Electric Co. initial public offering could value the nuclear power plant manufacturer well above its purchase price, according to an analyst’s report released Wednesday.
The Cranberry Township-based Westinghouse Electric filed a draft registration statement last month for the IPO with the U.S. Securities and Exchange Commission. The filing remains confidential. Westinghouse did not disclose how many shares would be offered nor the price range for shares. The company said the proposed offering would be subject to market and other conditions.
Analyst Jim West of Melius Research called the potential IPO “a massive turnaround” for Westinghouse, which filed for Chapter 11 bankruptcy protection in 2017 when it was owned by Toshiba. Westinghouse was sold for $4.6 billion in April 2018 to a Brookfield Asset Management subsidiary. The company is owned 51% by Brookfield Renewable Partners, a division of Brookfield Asset Management, and 49% by Cameco Corp., which acquired the company for $8.2 billion in 2023.
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