Jan 6 (Reuters) - Oil and gas company EP Energy Corp, controlled by private equity firm Apollo Global Management LLC , said it expects its initial public offering to be priced at $23-$27 per share, raising about $1.08 billion.
The company said that it will sell 40 million Class A common stock and list them on the New York Stock Exchange under the symbol “EPE”.
Based on the number of outstanding shares, EP Energy would be valued at about $7 billion at the top end of its expected price range.
The company filed for an IPO in September last year, less than 18 months after an Apollo-led group took it private for $7.15 billion in May 2012. Other investors in EP Energy include Riverstone Holdings LLC, Access Industries Inc and Korea National Oil Corp.
EP Energy, originally El Paso Corp’s exploration and production arm, struck deals in early 2012 to sell off some of its natural gas and coal bed methane properties for $1.3 billion. The company said it would use the proceeds to pay down some of its debt and increase its capital expenditure.
Credit Suisse, JP Morgan, Citigroup, Goldman Sachs are among the lead underwriters for the IPO. (Reporting by Avik Das in Bangalore; Editing by Maju Samuel)