Lehigh Gas IPO watch: The company has filed the IPO (initial public offering) regulatory filing with the U.S. Securities and Exchange Commission on May 11, 2012. According to the prospectus, the company plans to raise funds as much as up to $120 million and trade its common units on the New York Stock Exchange under the symbol “LGP.” The company will use the proceeds from the sale of common units in the Lehigh Gas IPO to repay debts and general partnership purposes. Raymond James & Associates is working as the lead underwriters on the deal.
Lehigh Gas Partners LP, formed in December 2011, is a limited partnership focusing on the wholesale distribution of motor fuels and operating real estate used in the retail distribution of motor fuels. The company says its primary business objective is to make quarterly cash distributions to its unitholders and, over time, to increase its quarterly cash distributions.
Lehigh Gas IPO