US LNG player Excelerate Energy files for IPO

Texas-based floating LNG player Excelerate Energy said it has filed for an initial public offering with the US Securities and Exchange Commission.

Excelerate intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “EE.”

The firm controlled by billionaire George Kaiser has filed a registration statement with the SEC on Form S-1 relating to these securities.

According to Excelerate, it has not yet determined the number of shares and the price range for the proposed offering. These are subject to market conditions.

Barclays, J.P. Morgan, and Morgan Stanley are serving as joint lead book-running managers for the offering.

Excelerate operates ten floating storage and regasification units (FSRUs), one of the world’s largest fleet of such vessels.

Also, it recently started natural gas deliveries to the Brazilian market via the Bahia LNG terminal in Salvador.

With this, Excelerate became the first private sector company to sell regasified LNG to customers in Brazil.

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