Linn Co filed on Monday with the SEC to raise up to $1 billion in an initial public offering. The company will have no operations and will only own interests in Linn Energy. Linn Co will be taxed as a corporation, which differs from Linn Energy's partnership tax treatment. The offering will serve as a means for Linn Energy to raise more capital.
Linn Energy, an independent oil and natural gas company, went public in 2006 and trades on the NASDAQ under the ticker LINE. Linn Co, a Houston, TX-based company that was founded in 2012, plans to list on the NASDAQ under the symbol LNCO. Barclays is the sole joint bookrunner on the deal. No pricing terms were disclosed.
