Private equity-backed oil and natural gas producer Infinity Natural Resources on Thursday raised $265 million in its initial public offering in the United States.
The company, backed by buyout firms Pearl Energy Investments and NGP, sold 13.5 million shares at $20, within marketed range of $18 and $21.
Energy has been a major theme in the IPO market so far this year as companies increasingly look to tap into investor fervor towards the industry.
Infinity, which tapped 14 banks for the IPO, is expected to begin trading on the New York Stock Exchange under the symbol “INR” on Friday.
(Reporting by Arasu Kannagi Basil and Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel)