Infrastructure Services Firm Cardinal Seeks $253 Million in IPO

Cardinal Infrastructure Group Inc., an infrastructure services firm, is seeking to raise $253 million in an initial public offering that could be among the last sizable US deals of the year.

The Raleigh, North Carolina-based company plans to market 11.5 million shares for $20 to $22 each, according to its filing Monday with the US Securities and Exchange Commission.

At the top of that range, Cardinal would have a market value of $803.5 million based on the outstanding shares listed in its filing.

The offering is expected to price Dec. 9, according to a marketing presentation seen by Bloomberg ...