Natural gas producer BKV Corp files for U.S. IPO

Natural gas producer BKV Corp files for U.S. IPO
Natural gas producer BKV Corp files for U.S. IPO

Nov 18 (Reuters) – U.S. natural gas producer BKV Corporation filed an initial U.S. public offering on Friday amid soaring energy demand and volatile commodity prices .

Energy companies have been among the big winners this year as the war in Ukraine increases pressure on the raw materials supply chain. The S&P 500 Energy Index (.SPNY) is up around 67% this year, outperforming the benchmark S&P 500 Index (.SPX).

However, the U.S. IPO market slammed the door on startups this year after a bumper 2021, with companies postponing listings citing turbulent market conditions. Those who chose to go ahead with their offerings received a lukewarm reception, piling up pressure on companies tied to the IPO.

Reuters reported earlier this year that a listing could value BKV at up to $2 billion, including debt. BKV did not disclose the number of shares or the price range of its proposed offer.

For the nine months ended Sept. 30, BKV posted earnings of $1.24 per diluted share, compared with a loss of $3.21 per share a year earlier, according to a regulatory filing with the Securities and Exchange Commission. United States.

The gas producer plans to float its shares on the New York Stock Exchange and expects to trade under the symbol “BKV”.

Credit Suisse, BofA Securities, Barclays and Citigroup are among the underwriters in the offering.

Reporting by Manya Saini in Bangalore; Editing by Krishna Chandra Eluri

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. producer natural gas BKV Corp files a application for IPO stock exchange in United States

. Natural gas producer BKV Corp files #U.S IPO

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