RICHMOND, Va. — ARKO Corp. has submitted a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its subsidiary, ARKO Petroleum Corp., as part of the company’s broader strategic plan.
The proposed IPO would involve the sale of Class A common stock of ARKO Petroleum, which will oversee ARKO’s wholesale, fleet fueling, and GPMP segments. The subsidiary would be responsible for the wholesale distribution of motor fuels to nearly all of ARKO’s retail convenience stores that sell fuel, as well as to independent dealers and other customers.
UBS Investment Bank, Raymond James, and Stifel are serving as lead book-running managers for the offering, with Mizuho and Capital One Securities acting as joint book-running managers.
ARKO stated that the Form S-1 registration statement has been filed but has not yet become effective. No securities may be sold, nor offers accepted, before the registration statement takes effect, the company noted. The offering will only be made through a prospectus.
Based in Richmond, VA, ARKO is a Fortune 500 company and one of the largest convenience store operators and fuel wholesalers in the United States. Through its GPM Investments division, the company manages a nationwide network of convenience stores under a portfolio of Community Brands, while also overseeing wholesale fuel distribution, fleet fueling, and cardlock services.
The company stated that the proposed IPO depends on market and other conditions, and there is no guarantee about if or when the offering will be finished, or its size or terms.
