Infinity Natural aims to reach a valuation of $1.2 billion in the US IPO

Infinity Natural Resources, a producer of oil, is aiming for a value of up to 1,24 billion dollars in its initial public offer. It joins a group of players in the industry that have been rushing to list their stocks in recent months.

The company announced on Tuesday that it aimed to raise $278.25 through the sale of 13,25 million shares at a price between $18 to $21 per share.

A recent flurry has accelerated the pace of energy sector IPOs. This includes Venture Global, a producer of LNG, which will list this week following a massive IPO.

Boardroom confidence has been boosted by a resilient economy, the possibility of interest rate reductions and the prospect for deregulation under Trump's administration.

Infinity Natural's investors, Pearl Energy Investments & NGP Capital hold approximately 65.7% of the company. The shares of the company will be listed on the NYSE with the symbol "INR".

The company was founded in 2017 and has assets of oil and gas in the Appalachian Basin, in the United States. In the first nine-months of 2024, its total revenue almost tripled compared to a year ago.

Citigroup, Raymond James, and RBC Capital Markets will be the book-running managers of Infinity's IPO. (Reporting and editing by Vijay Kishore, Shounak Dasgupta and Niket Nishant from Bengaluru)

(source: Reuters)