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Journey Energy Seeks to Raise as Much as C$248 Million in IPO

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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