Staff of Reuters 2 minutes Reuters (Reuters) – Clarios International Inc, a car battery manufacturer backed by Brookfield Asset Management Inc of Canada, filed paperwork for an IPO in the United States on Friday. According to Reuters, the company filed for a discreet listing in May and may be valued at over $20 billion in its first public offering. Clarios would be one of the biggest U.S. stock market debuts from the automobile sector this year at that price. The company intends to list on the New York Stock Exchange. Clarios batteries are used in one out of every three cars on the road worldwide, and the company’s products are used in more than 140 countries, according to the company’s website. Clarios also has the support of the Caisse de depot et placement du Québec (CDPQ), one of Canada’s largest state pension investors. According to the company’s report, sales for the year ended Sept. 30, 2020 was $7.6 billion, down 11% from the previous year due to the pandemic’s impact on demand. The symbol “BTRY” will be used to begin trading. The offering’s primary underwriters are BofA Securities and J.P. Morgan. Niket Nishant contributed reporting from Bengaluru, and Devika Syamnath edited the piece./n
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