Oil Tycoon George Kaiser Aims to Reopen US IPO Market with Excelerate Listing

Excelerate Energy Inc., which provides floating terminals to allow the importing of LNG, on April 4 announced plans for an IPO which would be the first major U.S. listing since the invasion of Ukraine.

Founded in 2003 by oil and gas tycoon George Kaiser, Excelerate Energy aims to raise up to $384 million through an IPO that could value the Texas-based LNG company at about $2.54 billion.

Operating in Brazil, Argentina, Israel, United Arab Emirates, Pakistan and Bangladesh, Excelerate expects to list on the New York Stock Exchange under the ticker symbol “EE”. The company intends to sell 16 million shares of its Class A common stock in the offering, priced between $21 and $24 apiece.