Apollo-backed EP Energy sets terms for $1 billion IPO

By Renaissance Capital,

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EP Energy, an Apollo-backed E&P of oil, natural gas and NGL in the US, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $1.0 billion by offering 40.0 million shares at a price range of $23 to $27. At the midpoint of the proposed range, EP Energy would command a market value of $6.2 billion.

EP Energy, which was founded in 2012 and booked $1.8 billion in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol EPE. Credit Suisse, J.P. Morgan, Citi, Goldman Sachs, Morgan Stanley, Deutsche Bank, UBS Investment Bank, BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: EPE

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