Reuters: Regulatory News: UPDATE 1-Southcross Energy Partners files for IPO of up to $230 mln

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UPDATE 1-Southcross Energy Partners files for IPO of up to $230 mln Apr 20th 2012, 14:45 Fri Apr 20, 2012 10:45am EDT April 20 (Reuters) - Southcross Energy Partners LP filed with U.S. regulators on Friday to raise up to $230 million in an initial public offering of common stock. The company, was formed by Charlesbank, Southcross Energy Partners GP LLC and other investors to own, operate, develop and acquire midstream energy assets. Southcross Energy will use the proceeds from the offering to reimburse Southcross Energy LLC for its capital expenditures and to repay debts, it said in its filing. The company, with assets in south Texas, Mississippi and Alabama, told the U.S Securities and Exchange Commission it intends to list its shares on New York Stock Exchange under the symbol "SXE." The filing did not reveal how many shares the company planned to sell or their expected price. Citigroup and Wells Fargo Securities are the underwriters to the offering. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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