ARKO Corp files for IPO of petroleum subsidiary

ARKO Corp. (NASDAQ: ARKO) filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its subsidiary ARKO Petroleum Corp., the company announced.

The subsidiary's business will include ARKO's wholesale, fleet fueling and GPMP segments and will handle wholesale distribution of motor fuels to substantially all of ARKO's retail convenience stores that sell fuel.

UBS Investment Bank, Raymond James and Stifel will serve as lead book-running managers for the proposed offering. Mizuho and Capital One Securities will act as joint book-running managers.

The registration statement has been filed but has not yet become effective. The securities cannot be sold and offers to buy cannot be accepted until the registration statement becomes effective.

ARKO Corp. operates convenience stores and serves as a fuel wholesaler in the United States. The Richmond, Virginia-based company operates in four segments: retail convenience stores, wholesale fuel supply, fleet fueling operations, and GPM Petroleum which supplies fuel to retail and wholesale sites.

The proposed offering will be made only through a prospectus when available. Copies of the registration statement can be accessed through the SEC's website.

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