Fracking Co., Industrial REIT Price IPOs Raising $696M

Law360, New York (January 12, 2018, 6:03 PM EST) -- Private equity-backed fracking company Liberty Oilfield Services Inc. said Friday it raised $216 million in an upsized initial public offering, preceded Thursday by a $480 million deal from Industrial Logistics Properties Trust, marking the first two IPOs of 2018.

Denver-based Liberty Oilfield sold 12.7 million shares at $17 each, up from prior plans to issue 10.7 million shares priced between $14 and $16. Liberty Oilfield, which provides hydraulic fracturing services to oil and natural gas explorers, plans to spend most proceeds repaying debt.

On Thursday, Industrial...
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