Holtec Nuclear suspends planned US IPO, Bloomberg News reports

Holtec Nuclear, a Camden, New Jersey-based nuclear technology company, has suspended its planned U.S. initial public offering, according to Bloomberg News. The company cited market conditions for the decision, stating that it would continue to assess the timing for the offering but did not provide a specific date. Holtec was scheduled to lead the first full week of the fall window for new listings, a period traditionally marked by high activity for fresh listings.

The company aimed to raise up to $900 million by offering 50 million shares at a price ranging from $15 to $18 each. The scheduled IPO was expected to be priced on Thursday.

This move follows a series of setbacks for companies within the nuclear sector. Standard Nuclear, which made its debut in July following a downsized IPO, has seen its shares drop 20.6% from the offering price as of Wednesday's close. Additionally, nuclear reactor maker X-Energy, which went public in April, is currently trading 36.7% below its IPO price.

Holtec, founded in 1986 by Krishna Singh, primarily focuses on heat transfer, reactor components, spent fuel storage, and nuclear plant decommissioning. The company is also involved in the development of small modular reactors (SMRs), with the first two units set to be deployed at its Palisades site. The suspension of the IPO was first reported by Bloomberg News.