Glori Energy Files for IPO of Up to $115 Million

Reuters reported that Glori Energy Inc has filed with U.S. regulators to raise up to $115 million in an initial public offering of its common stock.

As quoted in the market news:

The company said it planned to use the net proceeds from the offering for general corporate purposes, which may include the acquisition, restoration and operation of low-producing oil fields.

The Houston-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that Credit Suisse, UBS investment bank, Piper Jaffray and Robert Baird & Co were underwriting the IPO.

Click here to read the full Reuters report