Lehigh Gas Partners LP, a recently formed MLP engaged in the wholesale distributor of motor fuels in the US, announced terms for its IPO on Wednesday. The Allentown, PA-based company plans to raise $120 million by offering 6.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Lehigh Gas Partners would command a market value of $301 million. Lehigh Gas Partners LP, which was founded in 1992 and booked $1.9 billion in pro forma sales for the 12 months ended June 30, 2012, plans to list on the NYSE under the symbol LGP. Raymond James, Baird, Oppenheimer & Co., Janney Montgomery Scott and Wunderlich Securities are the joint bookrunners on the deal.
