Excelerate announces launch of IPO
Floating LNG terminal developer Excelerate Energy on April 4 announced plans for its initial public offering (IPO).
The Texas-based company plans to raise up to $384mn through the IPO. Excelerate intends to list its common stock on the New York Stock Exchange. The company intends to sell 16mn shares of its Class A common stock in the offering, priced between $21 and $24/share.
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Founded in 2003 by George B. Kaiser, Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Manila, Rio de Janeiro, Singapore, and Washington, DC. It operates in Brazil, Argentina, Israel, United Arab Emirates, Pakistan and Bangladesh.
Barclays, JP Morgan, and Morgan Stanley are serving as joint lead book-running managers for the offering. Wells Fargo Securities is also acting as a book-running manager. Raymond James, Stephens Inc., Tudor, Pickering, Holt & Co., SMBC Nikko, and BOK Financial Securities, Inc. are acting as co-managers for the proposed offering.