In this turbulent initial public offering market, which companies are taking the plunge anyway? You saw yesterday on Inside IPO that there’s still (quite a bit of) hope for the energy sector this year, which could have its best turnout since 2007. Last Friday, three energy companies filed S-1s with the SEC, accounting for 50 per cent of the day’s filing volume. Let’s take a look at them:
1. Rose Rock Midstream: this limited partnership was recently put together by SemGroup for the purposes of ‘own[ing] and acquir[ing] midstream energy assets in the western US’, according to Renaissance Capital. It plans to raise $181 mn by going public, and Barclays Capital is the lead underwriter. It will trade under the symbol RRMS.
2. Matador Resources: this company, which will trade under MTDR, specialises in ‘unconventional natural gas exploration and production. Its goal is $150 mn in capital through its IPO. The lead underwriters are RBC Capital Markets and Citigroup.
3. Mid-Con Energy Partners: this company, which is planning to raise $140 mn, owns, operates and develops oil properties in the central US. RBC Capital Markets is the lead underwriter, and Mid-Con will trade under MCEP.
Source: Renaissance Capital