ARKO Petroleum priced its enlarged initial public offering at the low end of the marketed range on Wednesday, selling 11.11 million shares at $18 each and raising close to $200 million. The transaction places an implied market value for the Richmond, Virginia-based wholesale fuel distributor at roughly $819 million and will result in the company listing on the Nasdaq exchange under the symbol "APC."
The offering was conducted at $18 per share, the bottom of the company's indicated range of $18 to $20. Underwriters on the deal included UBS Investment Bank, Raymond James, Stifel, Mizuho Securities and Capital One Securities, which served as the joint bookrunners for the offering.
ARKO Petroleum is a subsidiary of convenience store operator ARKO Corp and focuses on wholesale fuel distribution. The company supplies gasoline to service stations and independent third-party dealers across more than 30 U.S. states.
On a financial basis, ARKO Petroleum posted a profit of $24.7 million on revenue of $4.27 billion for the nine-month period ended September 30. That compares with a profit of $32.7 million on revenue of $4.92 billion for the same period a year earlier. Company disclosures indicate the proceeds from the IPO are intended primarily to pay down debt and for general corporate purposes.
The transaction comes at a time when the IPO market has shown renewed activity, which the company and market commentary attribute to rising equity markets and pent-up demand for new listings in early 2026. The firm and its underwriters positioned the offering amid that backdrop before settling on the final pricing.
This offering expands ARKO Petroleum's access to public capital while converting a private-unit into a publicly traded company. Management has signaled that debt reduction is a primary use of funds from the sale, alongside funding routine corporate needs.
Investors and market observers will watch the newly public APC shares for performance against comparable wholesale fuel distributors and the broader market, as the company transitions to reporting as a public entity and applying offering proceeds to its stated priorities.