Fuel Wholesaler Arko Petroleum Raises $200 Million in US IPO

Monique Mulima

Thu, February 12, 2026 at 10:11 AM GMT+9 2 min read

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Bloomberg

(Bloomberg) – Arko Petroleum Corp., the fuel wholesaler subsidiary of convenience store firm Arko Corp., raised $200 million in an upsized initial public offering that priced at the bottom of a marketed range.

The Richmond, Virginia-based fuel distributor sold about 11.1 million shares at $18 each, according to a statement Wednesday. Arko Petroleum had marketed 10.5 million shares for $18 to $20 each, according to earlier filings with the US Securities and Exchange Commission.

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At the IPO price, the company has a market value of around $830 million based on the outstanding shares listed in its filings.

Arko Petroleum operates in more than 30 US states and delivers fuel to over 1,100 Arko convenience store gas stations including brands like Fas Mart and E-Z Mart. The firm also distributes fuel to over 2,000 third-party gas stations in the US and distributes wholesale fuel to unstaffed fueling locations serving commercial fleets.

Net income attributable to Arko Petroleum fell to $24.7 million on revenue of $4.27 billion for the nine months ended Sept. 30, from $32.7 million on revenue of $4.92 billion a year earlier, according to the filings. The firm delivered 1.5 billion gallons of fuel in the first nine months of 2025, compared to 2.1 billion gallons in the 2024 full-year period.

Arko Corp. is expected to maintain a majority of the voting power in Arko Petroleum after the listing, the filing shows.

The fuel unit plans to pay a quarterly dividend of $0.50 per share after the listing.

The offering is being led by UBS Group AG, Raymond James Financial Inc. and Stifel Financial Corp. The company is expected to begin trading Thursday on the Nasdaq Stock Market under the symbol APC.

–With assistance from Anthony Hughes.

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