Maxum Energy IPO watch: U.S. refined petroleum products and related services provider Maxum Energy Logistics Partners, LP filed the IPO registration statement with the U.S. Security And Exchange Commission (SEC), showing that the company intends to list its common units on the New York Stock Exchange under the symbol “MXLP.” The proposed maximum aggregate offering price is $230 million.
Maxum Energy Logistics Partners, LP is one of the largest U.S. independent marketers and distributors of refined petroleum products and related services to drilling for and producing oil and natural gas and coal mining industries.
Maxum Energy intends to use the net proceeds to fund a distribution to MPOC, and the remainder to pay accounts payable, to fund working capital and for other general partnership purposes.
Maxum Energy booked $1.13 billion, $0.95 billion and $1.48 billion in revenues for the year ended June 30, 2009, 2010 and 2011, respectively. Net incomes for such three years were a net profit of $12.41 million, a net loss of $5.48 million and $0.29 million, respectively.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC are acting as the representatives of the underwriting syndicate of the Maxum Energy IPO.
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Maxum Energy IPO