McJunkin Red Man Sets IPO

McJunkin Red Man has filed a plan to sell $750 million of stock to the public.

The company, co-headquartered in Charleston and Tulsa, plans to list its shares on the New York Stock Exchange under the symbol, “MRC.”

Details of the initial public offering are contained in a 490-page prospectus McJunkin Red Man filed Wednesday with the federal Securities and Exchange Commission. The company had more $4 billion in annual sales in 2007.

McJunkin Corp. and Red Man Pipe and Supply Co. announced last July they would combine in a merger of equals. The company then announced that an initial public offering was likely “if the capital markets support such an offering.”

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