The shares of Excelerate Energy (NYSE:EE) are slated to begin trading today. Excelerate is carrying out an initial public offering (IPO) that has raised $384 million, and the company set an IPO price of $24 for EE stock. That price was at the high end of its $21-$24 range. Excelerate’s terminals store natural gas offshore and turn liquefied natural gas back into gaseous form.
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Here are five more things that investors should know about Excelerate Energy and its outlook.
5 Things to Know About the EE Stock IPO
- According to Bloomberg, Excelerate’s 2021 net income was $41 million, up from $31 million in 2020.
- Excelerate was founded in 2003 by George Kaiser, a billionaire who made his fortune in the energy sector.
- Based on the IPO price, the market value of EE stock is roughly $2.5 billion, Bloomberg estimated.
- The demand for LNG from Europe is expected to increase meaningfully as the European Union looks to wean itself off of natural gas imports from Russia. However, Excelerate does not currently have operations in Europe.
- On the other hand, the company reported that, since Russia invaded Ukraine “it has had more inquiries from countries traditionally dependent on Russian gas imports,” Reuters stated in a recent report.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
