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Lead battery maker Clarios to raise capital with proposed initial public offering

Thu, 05/20/2021 - 08:35 -- Paul Crompton
Lead battery maker Clarios to raise capital with proposed initial public offering

Lead-acid and lithium-ion battery maker Clarios plans to go public after filing a draft registration statement with the Securities and Exchange Commission.

The number of shares to be offered and the price range for the proposed initial public offering(IPO) have not yet been determined. 

The IPO is expected to begin as soon as the commission finishes the review process, which is subject to market and other conditions. 

The initial public offering of its common stock comes two years after the US-based batteries business changed its name from Johnson Controls Power Solutions.

Johnson Controls’ battery business Power Solutions was sold for $13.2 billion in 2018 to Brookfield Business Partners (a publicly listed business services and industrials company of Brookfield Asset Management Inc.) and Canadian institutional investor Caisse de dépôt et placement du Québec.

 

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