Natural gas producer and processor BKV (BKV) has reportedly put its proposed initial public offering on hold amid falling gas prices.
BKV had been expected to seek a valuation of up to $2B, but has decided to shelve the deal as it doesn’t believe it can get the valuation it wants at current prices, according to Reuters, which cited unnamed sources with knowledge of the matter.
The company first filed for an IPO in November, indicating it was looking to raise around $100M, a number that was likely a placeholder and subject to change.
BKV had planned to seek a listing on NYSE under the symbol BKV. Lead bookrunners included Credit Suisse, BofA Securities, Barclays, Citigroup, Evercore ISI and Jefferies.
Image and article originally from seekingalpha.com. Read the original article here.