Feb 12 (Reuters) – Fuel distributor ARKO Petroleum priced its upsized U.S. initial public offering at the low end of its indicated range, raising nearly $200 million.
The Richmond, Virginia-based company sold 11.11 million shares at $18 apiece on Wednesday, compared with its marketed range of $18 to $20. The IPO valued ARKO Petroleum at about $819 million.
The IPO market has seen renewed momentum as soaring equity markets and pent-up demand for new listings have sparked a flurry of activity in early 2026.
The company, which is a subsidiary of convenience store operator ARKO Corp, will list on the Nasdaq exchange under the symbol “APC.”
ARKO Petroleum reported a profit of $24.7 million on revenue of $4.27 billion for the nine-month period ended September 30, compared with a $32.7 million profit on revenue of $4.92 billion a year earlier.
The company plans to use proceeds from the offering to pay down debt and for general corporate purposes.
ARKO Petroleum primarily engages in wholesale fuel distribution, catering to gas stations and third-party dealers in more than 30 U.S. states.
UBS Investment Bank, Raymond James, Stifel, Mizuho Securities and Capital One Securities are the joint bookrunners for the offering.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Maju Samuel)
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