Reuters: Regulatory News: UPDATE 1-MRC Global sees IPO priced at $21-$23/shr

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UPDATE 1-MRC Global sees IPO priced at $21-$23/shr Mar 28th 2012, 11:47 March 28 | Wed Mar 28, 2012 7:47am EDT March 28 (Reuters) - MRC Global, which provides pipes, valves and fittings to the energy sector, said it expects its initial public offering of 22.7 million shares to be priced between $21.00 and $23.00 apiece. In its latest filing with the U.S. regulators, the company, controlled by affiliates of Goldman Sachs, said it now expects to raise up to $601 million through the IPO, up from its earlier plans of $500 million. Including over-allotment options, the shares under the offering could be 26.1 million. MRC Global, which withdrew its $750 million IPO in 2009, had revived plans of going public in January when it applied with U.S. Securities and Exchange Commission for an IPO of up to $100 million. The amount of money a company says it plans to raise in its first IPO filings is normally used as a placeholder to calculate registration fees. The final size of the IPO could be different. MRC Global said affiliates of Goldman Sachs and PVF Holdings are among the selling stockholders. The company which serves more than 12,000 customers through over 400 service locations in North America, Europe, Asia and Australasia, said it will list its shares on the New York Stock Exchange under the symbol "MRC." Goldman Sachs and Barclays Capital are the lead underwriters to the offering, while Robert W. Baird will act as the independent underwriter. Link this Share this Digg this Email Reprints

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