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April 11 (Reuters) – Energy industry supplier MRC Global Inc
priced shares at $21, at the bottom of their expected
range, in its initial public offering on Wednesday, an
underwriter said.
The Houston, Texas-based company, owned by Goldman Sachs’
private equity fund since 2007, priced 22.7 million
shares as expected, raising $476.7 million. The company had
planned to sell shares in the range of $21 to $23.
MRC Global, formerly known as McJunkin Red Man Holding
Corporation, is selling 17.0 million shares and PVF Holdings – a
holding company controlled by Goldman Sachs – is selling 5.7
million shares.
