ARKO Petroleum seeks up to $910 million valuation in US IPO

Feb 3 (Reuters) - ARKO ⁠Petroleum is ⁠seeking ‍a valuation of as much as $910 million in its U.S. initial public offering, the ‍company said on Tuesday, the latest to test ​the waters in a strong listings market.

The IPO market has ​seen renewed momentum going into 2026, as pent-up demand from a government shutdown last fall and strong investor appetite encourage ​more firms to go public.

Solar and battery storage firm SOLV Energy said last week it is ​targeting a valuation of as much as $4.99 billion in its IPO.

Investors have ‌piled into new listings this year, with Brazilian fintech firm PicPay and satellite company ​York Space Systems seeing robust ⁠market debuts.

ARKO Petroleum expects to raise up to $210 million in the offering by ‌selling 10.5 million shares in a price range of $18 to $20 apiece, according to a filing with the U.S. Securities ‌and Exchange Commission.

The company, which is a subsidiary of convenience ‌store operator ARKO Corp, has applied to list on the Nasdaq exchange under the symbol "APC."

The business primarily engages in wholesale ‍fuel distribution, catering to gas stations and third-party dealers in more than 30 ⁠U.S. states.

It reported a decline in nine-month revenue to $4.27 billion in its filing, compared with $4.92 billion a year ago.

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shreya Biswas and Leroy Leo)

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