IPO Filing Activity Suggests an Active Fall for the Energy Sector
By Renaissance Capital IPO Research:
While many companies pushed back plans to launch deals amid extreme market volatility last week, filing activity showed no signs of a slow-down with six new IPOs filing initial S-1's with the SEC on Friday, including three energy companies. So far this year, 17 IPOs have priced in the energy sector, compared to 18 in all of 2010. The US IPO pipeline now includes 16 energy companies (9% of total IPOs) expected to generate nearly $4 billion in proceeds. This robust pipeline may make 2011 the most active year in a decade for the energy sector, matching peaks in 2006 and 2007 when 34 and 32 energy IPOs priced, respectively.Rose Rock Midstream (RRMS), a limited partnership recently formed by SemGroup to own and acquire midstream energy assets in the western US, plans to raise up to $181 million in its offering. The Tulsa, OK-based company, which was founded inComplete Story »
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