UL Solutions (ULS) IPO is priced at $28 per share, with a market value of $5.6 billion and a PE ratio of 21.5x.ULS is a security services company that provides customers with independent Testing, Inspection, and Certification (TIC) services, as well as related Software and Advisory (S&amp;A) products.Performance: AverageThe company had a revenue of $2.678 billion in 2023, with a compound annual growth rate of 6.9% over the past 13 years, showing long-term modest growth:<img src="https://pub.pbkrs.com/cms/2024/0/B3skAF2djoMvx5DuX9uptcanpyni2nyD.jpg?x-oss-process=style/lg" alt="Revenue Growth" original-src="https://pub.pbkrs.com/cms/2024/0/B3skAF2djoMvx5DuX9uptcanpyni2nyD.jpg"/>Source: ProspectusNet profit in 2023 was $276 million, a 10% year-on-year decrease.Revenue is mainly composed of four parts: Certification Testing (27%), Continuous Certification Services (33%), Non-certification Testing and Others (30%), Software (10%):<img src="https://pub.pbkrs.com/cms/2024/0/kcheg2NbVaxp6n9GoABnmpfrrWejwN1i.jpg?x-oss-process=style/lg" alt="Revenue Composition" original-src="https://pub.pbkrs.com/cms/2024/0/kcheg2NbVaxp6n9GoABnmpfrrWejwN1i.jpg"/>Source: ProspectusThe business scope is wide, covering various industries, not just limited to internet stocks:<img src="https://pub.pbkrs.com/cms/2024/0/cSsiKrKvktszrrijiVMtwDBWLJrmuUvA.jpg?x-oss-process=style/lg" alt="Business Scope" original-src="https://pub.pbkrs.com/cms/2024/0/cSsiKrKvktszrrijiVMtwDBWLJrmuUvA.jpg"/>Source: Official WebsiteSome significant developments in the software field since 2021:<img src="https://pub.pbkrs.com/cms/2024/0/skN7VPUcCqTWRW9yth7DF2oBw39VnNxE.jpg?x-oss-process=style/lg" alt="Software Developments" original-src="https://pub.pbkrs.com/cms/2024/0/skN7VPUcCqTWRW9yth7DF2oBw39VnNxE.jpg"/>Highlight: Interest from Norway's Sovereign Wealth FundNorway's Sovereign Wealth Fund, Norges Bank Investment Management, has expressed interest in purchasing $75 million worth of shares.<img src="https://pub.pbkrs.com/cms/2024/0/YuaKsfkD9yp7oVPoFrJXqpUwTe92vb7N.jpg?x-oss-process=style/lg" alt="Norway's Sovereign Wealth Fund" original-src="https://pub.pbkrs.com/cms/2024/0/YuaKsfkD9yp7oVPoFrJXqpUwTe92vb7N.jpg"/>Source: ProspectusNorway's Sovereign Wealth Fund is the world's largest sovereign wealth fund, with a current market value of 17.4 trillion Norwegian Krone (approximately $1.61 trillion USD) according to the official website's real-time information.<img src="https://pub.pbkrs.com/cms/2024/0/2k4jTSdxnzRxennti1k36SMdJeZneMam.jpg?x-oss-process=style/lg" alt="Norway's Sovereign Wealth Fund Market Value" original-src="https://pub.pbkrs.com/cms/2024/0/2k4jTSdxnzRxennti1k36SMdJeZneMam.jpg"/>Due to the bullish trend in the US stock market, there have been several recent IPOs, including ALAB, Reddit, and yesterday's healthcare stock PACS, which rose by 9.5% on its first day of trading

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The company's revenue in 2023 was $2.678 billion, with a compound annual growth rate of only 6.9% over the past 13 years

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UL Solutions

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Norway's Sovereign Wealth Fund also interested? ULS to go public tonight with a valuation of $5.6 billion