LNG Firm Excelerate Energy Launches IPO
Liquefied natural gas company Excelerate Energy is looking to go public on the New York Stock Exchange. The firm announced today the launch of its initial public offering of 16.0 million Class A common shares.
The energy firm, founded by American billionaire George Kaiser, is targeting the share price between US$21.00 and US$24.00 per share, which puts target proceeds from the offering at US$384 million on the high end of the range. This puts the company’s valuation at around US$2.54 billion.
The shares are expected to trade on the New York-based big board under the symbol “EE”. The underwriters also have a 30-day over-allotment option to purchase additional 2.4 million shares.
The Texas-based energy firm is said to provide “integrated services along the LNG value chain.” It has a global reach with offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Manila, Rio de Janeiro, Singapore, and Washington, DC.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
