ARKO Petroleum Corp (APC) files for proposed IPO

ARKO Petroleum Corp (NYSE: APC) has filed for a proposed Nasdaq IPO.

The company describes itself as: "We are a growth-oriented, fuel distribution company and one of the largest wholesale fuel distributors by gallons in North America, supplying customers in more than 30 states across the Mid-Atlantic, Midwestern, Northeastern, Southeastern, and Southwestern United States (“U.S.”). We were formed by ARKO Parent (Nasdaq: ARKO), one of the largest convenience store operators in the U.S. We primarily engage in the fee-based wholesale distribution of motor fuel to the retail sites operated by ARKO Parent that sell fuel (“ARKO Retail,” “ARKO Retail Sites” or “related party sites”) and to third-party dealers under long-term contracts, and we sell fuel at our fleet fueling locations. One of our key business objectives is to make quarterly cash distributions to stockholders and, over time, increase our quarterly cash distribution."

UBS, Raymond James, and Stifel will serve as lead underwriters. Mizuho and Capital One are also among underwriters.

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