Lehigh Gas, one of the newest members of the Neighborhood Improvement Zone (NIZ), is going public.
Wednesday the company released a statement that it has started an initial public offering of 6,000,000 shares. It filed paperwork with the Securities and Exchange Commission in May but the IPO has not yet been finalized. Sales of shares cannot take place until the IPO is finalized.
The company works in wholesale distribution of motor fuels and covers parts of Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire and Maine.
Raymond James & Associates and Robert W. Baird are acting as joint book-running managers for the Offering. Oppenheimer, Janney Montgomery Scott, and Wunderlich Securities are acting as co-managers for the offering.
It is are expected to trade on the New York Stock Exchange under the symbol "LGP."
Lehigh Gas moved from Salisbury Township into Allentown's NIZ last year.