ARKO Corporation (ARKO), an operator of convenience stores and wholesaler of fuel, said on Tuesday that its subsidiary, ARKO Petroleum Corporation, has launched an initial public offering of its Class A shares.
ARKO Petroleum will offer 10.500 million Class A shares in the IPO. It expects to grant the underwriters a 30-day option to purchase up to an additional 1.575 million Class A shares at the IPO price.
The IPO price is currently expected to be in the range of $18 to $20 per share.
ARKO Petroleum has applied to list its Class A shares on the Nasdaq Stock Market LLC under the symbol "APC."
ARKO was up by 2.14% at $5.72 in the pre-market trade on the Nasdaq.
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