Oil and gas royalty owner Brigham Minerals sets terms for $223 million IPO
Brigham Minerals, which owns oil and gas mineral royalty interests underlying 68,800 acres across the US, announced terms for its IPO on Tuesday.
The Austin, TX-based company plans to raise $223 million by offering 13.5 million shares at a price range of $15 to $18. At the midpoint of the proposed range, Brigham Minerals would command a fully diluted market value of $786 million.
Brigham Minerals was founded in 2012 and booked $67 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol MNRL. Credit Suisse and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of April 15, 2019.
The article Oil and gas royalty owner Brigham Minerals sets terms for $223 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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