Sept 16 (Reuters) – Holtec Nuclear has suspended its planned U.S. initial public offering due to market conditions, the nuclear technology company said on Wednesday.
The Camden, New Jersey-based company said it would continue to evaluate the timing of the offering, but did not give a specific date.
The nuclear technology company was set to headline the first full week of the fall window, traditionally one of the busiest stretches for new listings.
Holtec was seeking up to $900 million by offering 50 million shares for between $15 and $18 apiece in its IPO, which was expected to be priced on Thursday.
The suspension is the latest setback for issuers from the nuclear sector, where stocks have had a tough run in recent months.
Standard Nuclear, which debuted in July after downsizing its U.S. IPO, has seen its shares plunge 20.6% from the offer price through Wednesday’s close.
Nuclear reactor maker X-Energy, which went public in April, is trading 36.7% below its IPO price.
Founded in 1986 by Krishna Singh, Holtec specializes in areas such as heat transfer and reactor components, spent fuel storage and nuclear plant decommissioning.
The firm is also developing small modular reactors (SMRs), with the first two units expected to be deployed at its Palisades site.
The suspension was initially reported by Bloomberg News.
(Reporting by Arasu Kannagi Basil in Bengaluru; Additional reporting by Chandni Shah in Bengaluru; Editing by Jonathan Ananda and Subhranshu Sahu)
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