Petrogas To Line Up June IPO For Applegreen
Petrogas, the Irish fuel group, is targeting June for an initial public offering of its Applegreen service station business, according to The Irish Times.
The paper understands that the company is in the advanced stages of producing a prospectus for a stock market floatation and has added Shore Capital, a UK investment group, to its group of advisers, which also includes Goodbody Stockbrokers.
Petrogas, which is owned by Irish businessmen Bob Etchingham and Joe Barrett, is lining up a June listing, but the timing is subject to change depending on market conditions. According to sources cited in The Irish Times, the IPO could raise between €50 million and €100 million for the company.
Petrogas has ambitious plans to expand into the UK and the US, and it is understood that the money raised from the IPO would be used to fund that expansion.
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