Infinity Natural, a company that produces oil and natgas, files for an IPO in the US

Infinity Natural Resources, an oil and natural gas developer, is planning to launch its initial public offering (IPO) in the United States. This comes after the company nearly doubled its revenue during the first half year.

Infinity, backed by investment firms Pearl Energy Investments (PEI) and NGP Capital (NGP Capital), will seek to list at the NYSE. The filing was made just days after the shares of BKV, a natural gas producer, began trading.

Infinity will enter the public markets in a strong financial position. This is boosted by the recent rise in oil prices, as fears of an expanded conflict in the Middle East threatens to disrupt the global supply.

The company's total revenue for the six-month period ended June 30 was $120.7m, compared to $61.4m in the same time last year. The company's net income fell by 76%, primarily due to unrealized derivatives losses. These are the derivatives it buys as a hedge for wild price swings.

The start of a much-anticipated interest rate cut cycle by the U.S. Federal Reserve, despite the looming uncertainty of the November presidential election, has prompted more activity on the IPO markets.

Citigroup, Raymond James, and RBC Capital Markets were the underwriters of Infinity's IPO. (Reporting and editing by Devika Syamnath in Bengaluru. Reporting by Niket Nishant from Bengaluru)

(source: Reuters)