Fuel Wholesaler Arko Petroleum Raises $200 Million in US IPO

Arko Petroleum Corp., the fuel wholesaler subsidiary of convenience store firm Arko Corp., raised $200 million in an upsized initial public offering that priced at the bottom of a marketed range.

The Richmond, Virginia-based fuel distributor sold about 11.1 million shares at $18 each, according to a statement Wednesday. Arko Petroleum had marketed 10.5 million shares for $18 to $20 each, according to earlier filings with the US Securities and Exchange Commission.

At the IPO price, the company has a market value of around $830 million based on the outstanding shares listed in its filings.

Arko Petroleum operates ...