KKR-backed proppants provider Preferred Sands withdraws $100 million IPO

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Preferred Sands, which mines and processes frac sand used in oil and gas drilling, withdrew its plans for an initial public offering on Thursday. It originally filed in August 2017 with a proposed deal size of $100 million.

The Radnor, PA-based company was founded in 2007 and booked $228 million in revenue for the 12 months ended December 31, 2017. It had planned to list on the NYSE under the symbol PFRD. Credit Suisse, KKR and Morgan Stanley were set to be the joint bookrunners on the deal.

The article KKR-backed proppants provider Preferred Sands withdraws $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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

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