Southcross Energy sets IPO price range at $19-$21 per share
Oct 22 (Reuters) - Natural gas company Southcross Energy Partners LP said it expects to sell 9 million common units between $19 and $21 per unit in an initial public offering.
At the midpoint of the price range, the company will raise $180 million through the IPO. The company expects to receive $168.7 million, after deducting underwriting discounts and commissions.
The company, whose assets are located in South Texas, Mississippi and Alabama, was formed by Charlesbank, Southcross Energy Partners GP LLC and other investors to own, operate, develop and acquire midstream energy assets.
Citigroup, Wells Fargo Securities, Barclays and J.P. Morgan are the lead underwriters to the offering.
The Dallas, Texas-based company, which filed for its IPO in April, plans to list its common units on the New York Stock Exchange under the symbol "SXE".
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