SandRidge Permian Trust, a trust formed to own interests in producing and developmental wells within the Permian Basin, filed on Wednesday with the SEC to raise up to $721 million in an initial public offering. Sandridge Permian's offering follows another SandRidge sponsored trust, Sandridge Mississippian Trust (SDT), which was offered on April 6, 2011 and is currently trading up 25% from its listed price. SandRidge Permian is Austin, TX-based and booked $72 million in sales for the 12 months ended March 31, 2011. SandRidge Permian plans to list on the NYSE under the symbol PER. Morgan Stanley is the lead underwriters on the deal. No pricing terms were disclosed.
