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McJunkin Red Man files for $100 million initial public offering

MRC Global Inc., formerly McJunkin Red Man Holding Corp., announced it has filed a registration statement with the federal Securities and Exchange Commission for an initial public offering of stock.

The company said neither the number of shares to be offered nor the stock price has been determined. However, the registration statement estimates the proposed maximum aggregate offering will be $100 million.

The company said it will ask the New York Stock Exchange to list the stock under the symbol, "MRC."

MRC has more than 3,600 employees, including more than 380 in West Virginia. The company posted $4.6 billion in revenue over the past four quarters. MRC has more than 400 service locations and about $900 million of pipe, valve and fitting stock strategically located around the globe.

The company is headquartered in Houston, Texas, and maintains corporate offices in Charleston and Tulsa, Okla.

Funds owned by Goldman Sachs Group, Inc. -- a global investment banking, securities and investment management firm -- own 60 percent of MRC. Other shareholders and management own 40 percent.



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