Northern Technologies Intl. (NTI) IPO Trades Higher
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Today's IPO for Northern Technologies International Corp. (NYSE: NTI) is trading up slightly. After pricing 16,250,000 common units at $14 and opening at $13.66, shares last traded at $14.25.
The offering was led by Goldman, Sachs & Co., Barclays and BofA Merrill Lynch.
Northern Technologies International is an independent downstream energy limited partnership with refining, retail and pipeline operations that serves the PADD II region of the United States. They operate in two business segments: the refining business and the retail business. For the three months ended March 31, 2012, the company had total revenues of approximately $1.0 billion, operating income of $2.7 million, a net loss of $193.6 million and Adjusted EBITDA of $81.5 million. For the year ended December 31, 2011, they had total revenues of $4.3 billion, operating income of $422.6 million, net earnings of $28.3 million and Adjusted EBITDA of $430.7 million.
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The offering was led by Goldman, Sachs & Co., Barclays and BofA Merrill Lynch.
Northern Technologies International is an independent downstream energy limited partnership with refining, retail and pipeline operations that serves the PADD II region of the United States. They operate in two business segments: the refining business and the retail business. For the three months ended March 31, 2012, the company had total revenues of approximately $1.0 billion, operating income of $2.7 million, a net loss of $193.6 million and Adjusted EBITDA of $81.5 million. For the year ended December 31, 2011, they had total revenues of $4.3 billion, operating income of $422.6 million, net earnings of $28.3 million and Adjusted EBITDA of $430.7 million.
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