Oilfield services firm Atlas Energy aims for $2 billion valuation in U.S. IPO
Reuters
Published Mar 01, 2023 01:59
(Reuters) -Oilfield services firm Atlas Energy Solutions Inc plans to get a valuation of around $2 billion in its initial public offering in the United States, a regulatory filing showed on Tuesday.
The company provides logistics services to customers in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico. It plans to raise $414 million in an offering priced between $20 and $23 per share.
Reuters was the first to report last year that Atlas was preparing for a public listing which could value the company between $2 billion and $3 billion including debt.
The Austin, Texas-based firm joins a clutch of energy companies that have taken to the public equity markets even amid a global rout, hoping to cash in on huge wins in the oil and gas industry since last year as the war in Ukraine piled pressure on the commodities supply chain.
Excelerate Energy Inc, which provides floating terminals for importing liquefied natural gas, ended a lull in the U.S. IPO market when it debuted last year.
Atlas Energy plans to float its shares on the New York Stock Exchange and expects to trade under the ticker symbol "AESI". Goldman Sachs & Co (NYSE:GS). LLC, BofA Securities and Piper Sandler are the lead book-running managers for the offering.
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Written By: Reuters
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