ProPetro Holding Corp. said Tuesday in filing that its 20 million-share initial public offering is expected to price between $16 share and $19 a share, which would raise up to $380 million. Of the total, 10.6 million shares are being sold by the Texas-based hydraulic fracturing services company, which would bring in up to about $201.4 million for the company, and 9.4 million shares are being sold by selling shareholders. The stock has been approved to list on the New York Stock Exchange under the ticker symbol "PUMP." The company will grant the underwriters of the IPO options to buy up to an additional 3 million shares from the selling shareholder. Goldman Sachs and Barclays are the lead underwriters. The IPO is coming at time when the energy sector has been underperforming the broader stock market, as the SPDR Energy Select Sector ETF has lost 5% over the past three months while the S&P 500 has gained 6%.
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