Edgen IPO shares prices, stock symbol

Edgen IPO shares prices, stock symbol, Edgen files IPO prospectus, Edgen IPO price range : According to the latest amended regulatory filing submitted by Edgen Group to the Securities and Exchange Commission on April 17, 2012, the company expects to land on the New York Stock Exchange under the symbol “EDG”. The Edgen IPO price is anticipated to be between $14 and $16 per share. The IPO date is preliminarily set at April 26, 2012.

Jefferies, Morgan Stanley and Citigroup are acting as the joint book-runners and representatives of the underwriting syndicate of the Edgen IPO. Stephens Inc. Tudor, Pickering, Holt & Co., BB&T Capital Markets and HSBC are working as the co-managers on this deal. The underwriters are granted an option to purchase up to an additional 2,250,000 shares of Class A common stock at the public offering price to cover over-allotments.

Assuming an initial public offering price of $15.00 per share, which is the mid-point of the announced Edgen IPO price range, the company will receive net proceeds of approximately $206.4 million. The majority of the net proceeds will be used to purchase newly-issued EDG LLC membership units from EDG LLC and the remaining part will be used for other general corporate purposes.

Edgen is a leading global distributor of specialized steel and specialty products to the oil and natural gas industry, civil construction and mining applications. The company recognized pro forma sales of $1.7 billion and $1.3 billion, pro forma net income of $2.1 million and pro forma net loss of $89.3 million and pro forma EBITDA of $123.3 million and $22.6 million for the years ended December 31, 2011 and 2010, respectively.

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