IPOS - Car-battery behemoth Clarios files for U.S. IPO

DonNichols/E+ via Getty Images Car-battery giant Clarios, which makes the batteries used in one out of every three cars worldwide, filed for an initial public offering in the U.S. Clarios didn't disclose how many shares it plans to sell in the offering or how much it expects to raise, according to an S-1 filing. The company plans to trade on the NYSE under the ticker symbol "BTRY." Clarios originally disclosed in earlier May that it filed confidentially for an IPO and Reuters at the time said the Wisconsin-based company could be valued at more than $20B. For the year ended Sept. 30 2020, Clarios revenue about fell 11% to $7.6B. Clarios is owned by Brookfield Business Partners LP (BBU) and Canada’s Caisse de dépôt et placement du Québec. BBU is in turn a unit of Brookfield Asset Management (BAM). Brookfield and Caisse bought Clarios two years ago from Johnson Controls (JCI) for $13.2B. The company makes both

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Car-battery behemoth Clarios files for U.S. IPO