Southcross Energy sets terms for $180 million IPO

By Renaissance Capital,

Shutterstock photo

Southcross Energy Partners, which provides natural gas gathering, processing and transportation services in the southern US, announced terms for its IPO on Monday. The Dallas, TX-based company plans to raise $180 million by offering 9 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Southcross Energy Partners would command a fully diluted market value of $489 million. Southcross Energy Partners, which was founded in 2009 and booked $501 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol SXE. Citi, Wells Fargo Securities, Barclays and J.P. Morgan 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: SXE

More from Renaissance Capital


Renaissance Capital

Renaissance Capital

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by