Oct 17 Lehigh Gas Partners LP, a wholesale
distributor of motor fuels, said it expects to sell 6 million
common units for between $19 and $21 a unit.
The IPO will raise $120 million at the mid-point of the
range, with the company expected to receive $105.6 million.
The Allentown, Pennsylvania-based company plans to use the
proceeds to pay down debt, for working capital and acquisitions.
The limited partnership was formed to distribute motor fuels
and to own and lease real estate used in the retail distribution
of motor fuels.
The company, which filed for an IPO in May, listed Raymond
James & Associates Inc and Robert W Baird & Co Inc as lead
The company plans to list its common units on the New York
Stock Exchange under the symbol "LGP".