U.S. energy infrastructure company New Fortress Energy LLC, a subsidiary of Fortress Investment Group, has set terms for its proposed initial public offering (IPO).
The company intends to offer 22.2 million shares priced at $17 to $19 each.
New Fortress, which has applied to list on Nasdaq under the ticker symbol NFE, will secure $399.6 million at the midpoint of that range.
The underwriters on the offering include U.S. financial services firm Morgan Stanley, British peer Barclays, Citigroup and Switzerland-based Credit Suisse.