WASHINGTON (dpa-AFX) - ARKO Corporation (ARKO) and its subsidiary ARKO Petroleum Corporation, or APC, have announced the pricing of ARKO Petroleum's initial public offering of 11.111 million shares of its class A shares at $18 per share.
In addition, APC has granted the underwriters a 30-day option to purchase up to an additional 1.666 million class A shares of ARKO Petroleum to cover over-allotments.
The IPO is expected to be closed on February 13.
APC class A shares have been approved for listing on the Nasdaq Capital Market under the symbol 'APC' and are expected to begin trading on February 12.
Post IPO, ARKO is expected to own 35 million shares of APC's class B stock, representing 75.9% of the economic interests in APC and 94% of the combined voting power of APC's class A stock and class B stock.
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