Susser Petroleum Partners sets range at $19-21 for IPO
Susser Petroleum Partners LP, a wholesale distributor of motor
fuels, announced terms for its IPO on Monday. The Houston,
TX-based company plans to raise $190 million by offering 9.5
million shares at a price range of $19.00 to $21.00. At the
midpoint of the proposed range, Susser Petroleum Partners LP
would command a fully diluted market value of $438 million.
Susser Petroleum Partners LP, which was founded in 2012 and booked $4.1 billion in sales for the 12 months ended June 30, 2012, plans to list on the NYSE under the symbol SUSP. BofA Merrill Lynch, Barclays and Wells Fargo Securities are the joint bookrunners on the deal.