The company provides logistics services to customers in the oil and natural
gas industry within the Permian Basin of West Texas and New Mexico. It plans to
raise $414 million in an offering priced between $20 and $23 per share.
Reuters was the first to report last year that Atlas was preparing for a
public listing which could value the company between $2 billion and $3 billion
including debt. The Austin, Texas-based firm joins a clutch of energy companies that have
taken to the public equity markets even amid a global rout, hoping to cash in on
huge wins in the oil and gas industry since last year as the war in Ukraine
piled pressure on the commodities supply chain.
Excelerate Energy Inc , which provides floating terminals for
importing liquefied natural gas, ended a lull in the U.S. IPO market when it
debuted last year. Atlas Energy plans to float its shares on the New York Stock Exchange
and expects to trade under the ticker symbol "AESI". Goldman Sachs & Co. LLC,
BofA Securities and Piper Sandler are the lead book-running managers for the
offering.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh Kuber)
(Adds background)
Feb 28 (Reuters) - Oilfield services firm Atlas Energy Solutions Inc
plans to get a valuation of around $2 billion in its initial public offering in
the United States, a regulatory filing showed on Tuesday.
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