IPOS - Car-battery firm Clarios sets $17-$21/share IPO range valuing firm at up to $11B (update)

BirdShutterB/iStock via Getty Images Update 11:43am: Adds enterprise value. Car-battery maker Clarios (BTRY) is looking at a valuation of more than $11B on a non-diluted basis for its upcoming IPO. The company will be valued at about $18B based on enterprise value. Clarios plans to sell 88.1M shares at a price rang of $17 to $21/share to raise $1.85B at the top end of the range , according to an amended S-1 filing. Clarios will trade on the NYSE under the ticker "BTRY." Clarios originally disclosed in early May that it filed confidentially for an IPO. 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) at a $13.2B enterprise value, including $3B of equity and $10.2B of debt. The company makes both the traditional lead-acid

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Car-battery firm Clarios sets $17-$21/share IPO range, valuing firm at up to $11B (update)