Arko Petroleum Corp., a fuel distribution subsidiary of convenience-store operator Arko Corp., has registered an offering that could bring in up to $210 million and place the enterprise value of the business near $1 billion.
The Richmond, Virginia-based distributor told regulators in a filing with the U.S. Securities and Exchange Commission that it plans to sell 10.5 million shares at a proposed price range of $18 to $20 per share.
Operating across more than 30 states, Arko Petroleum is among the largest wholesale fuel distributors in North America by gallons supplied. The company organizes its operations into three reporting segments:
- Wholesale - distribution of fuel to gas stations run by third-party dealers and other purchasers.
- Fleet Fueling - operation of unstaffed fueling locations that serve commercial fleets and municipal customers.
- GPMP - supply of fuel to retail sites owned by parent company Arko Corp.
For the year ended December 31, 2024, Arko Petroleum reported distribution of 2.1 billion gallons of fuel. As of September 30, 2025, the company supplied fuel to 1,158 Arko-branded retail sites and 2,053 gas stations operated by third-party dealers.
After the offering, Arko Corp. will continue to hold the majority economic and voting interests in the wholesaler: 76.9% of the economic interests and 94.3% of the voting power, according to the filing.
The company intends to list on the Nasdaq under the ticker symbol "APC." The underwriting group named in the filing includes UBS Investment Bank, Raymond James, Stifel, Mizuho, and Capital One Securities.
In its public filings, Arko Petroleum set out a strategic emphasis on stable, fee-based activities and said it plans to leverage its relationship with parent company Arko Corp. to preserve and expand cash flows. The company identified a primary objective of delivering quarterly cash distributions to shareholders.
From a balance-sheet and cash-flow standpoint, the filing highlights a business model centered on recurring fuel distribution volumes and fee-derived activities tied to wholesale, fleet, and GPMP channels. The combination of large gallons-throughput and a continued commercial relationship with the parent company are presented as the foundations for producing distributable cash, while Arko Corp.'s post-offering ownership percentages indicate continued parent influence over strategic decisions.
No additional timetable for the offering or use-of-proceeds details beyond the proposed share count and price range were provided in the filing.