May 15 (Bloomberg) -- Journey Energy Inc., a Calgary-based oil-and-gas explorer, is seeking to raise as much as C$248 million ($229 million) in an initial public offering.
Journey and shareholder Public Sector Pension Investment Board plan to sell 16.5 million shares for C$13 to C$15 each in the sale, according to a marketing document sent to investors. Bank of Montreal and Canadian Imperial Bank of Commerce are co-leading the sale, which is expected to close in June.
A telephone message left with Journey Chief Executive Officer Alex Verge wasn’t immediately returned.
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