Clarios, the former automotive battery unit of Johnson Controls Inc., stated on Wednesday it experienced confidentially filed paperwork with the U.S. Securities and Trade Commission for an first public presenting.
The company, backed by Canada’s Brookfield Asset Administration Inc., did not disclose other details about the proposed presenting.
The flotation of Clarios, which could be valued at above $20 billion in its IPO according to a human being common with the make any difference, would mark one of the most significant automotive inventory market place debuts this year.
EV maker Lucid Motors struck a $24-billion merger offer with a blank-check out agency in February, though yet another superior-flying startup Rivian is also lining up to go public afterwards this year.
Brookfield experienced bought Glendale, Wis.-based Clarios in 2019 from former vehicle provider Johnson Controls, for $thirteen.two billion, in one of the most significant specials clinched by the asset manager.
A person in three automobiles on the road globally employs a battery created by Clarios and its items are applied in a lot more than one hundred forty nations, according to the firm’s website.
Clarios is also backed by Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s most significant point out pension buyers.