EQT Said to Weigh $1 Billion-Plus US IPO of Waste Firm Reworld

EQT AB is considering a US initial public offering of waste management firm Reworld that could raise $1 billion or more, according to people familiar with the matter.

The private equity firm is working with Goldman Sachs Group Inc., JPMorgan Chase & Co. and Royal Bank of Canada to arrange the Florham Park, New Jersey-based company’s potential listing, said the people, who asked not to be identified as the information isn’t public. A listing could happen as soon as next year, the people said.

Deliberations are ongoing, details of the IPO including size and timing could change and more banks may be added to the lineup, the people said. Representatives for EQT, Goldman Sachs, JPMorgan and RBC declined to comment. A spokesperson for Reworld didn’t immediately respond to requests for comment.

The potential listing comes as US IPO activity continues to rebound from a post-pandemic slump, with $29.6 billion raised in the year to date, excluding blank-check companies and other vehicles, up nearly 40% from the same period in 2024, according to data compiled by Bloomberg.