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Nov. 20, 2020, 10:23 a.m. EST

Sotera Health stock set to start trading after IPO pricing valued company at more than $6 billion

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By Tomi Kilgore

Shares of Sotera Health Co. /zigman2/quotes/222596028/composite SHC -3.95% are set to start trading Friday, after the Ohio-based sterilization and lab-testing services provider's initial public offering priced at the high end of the expected range. The company said late Thursday that its 46.6 million-share offering priced at $23.00 a share, compared with expectations of between $20 to $23, as the company raised $1.07 billion in the IPO. With 277.33 million shares outstanding after the IPO, the pricing values the company at $6.38 billion. The stock is expected to begin trading on the Nasdaq under the symbol "SHC." For the nine months through Sept. 30, the company recorded net income of $5.1 million on revenue of $601.3 million, after income of $7.1 million on revenue of $584.8 million in the same period a year ago. The company is going public on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -4.33% is rising 0.9% in morning trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.84% is falling 0.4%.

/zigman2/quotes/222596028/composite
US : U.S.: Nasdaq
$ 20.90
-0.86 -3.95%
Volume: 304,448
Jan. 18, 2022 4:00p
P/E Ratio
158.21
Dividend Yield
N/A
Market Cap
$6.16 billion
Rev. per Employee
$302,358
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 47.72
-2.16 -4.33%
Volume: 245,951
Jan. 18, 2022 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,577.11
-85.74 -1.84%
Volume: 2.74B
Jan. 18, 2022 4:56p
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