Sprague Resources LP sets terms for $170 million IPO

By Renaissance Capital,

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Sprague Resources, an LP engaged in the purchase, storage, distribution and sale of refined petroleum products, announced terms for its IPO on Tuesday. The Portsmouth, NH-based company plans to raise $170 million by offering 8.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Sprague Resources LP would command a market value of $403 million.

Sprague Resources LP, which was founded in 1870 and booked $4.5 billion in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol SRLP. Barclays, J.P. Morgan and BofA Merrill Lynch 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: SRLP

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