Panther Expedited Files for IPO

(Reuters) – Freight transportation company Panther Expedited Services Inc filed with U.S. regulators on Friday to raise up to $100 million in an initial public offering of common stock.

The company told the U.S Securities and Exchange Commission in a preliminary prospectus that J.P. Morgan and Goldman, Sachs & Co were joint book-running managers for the IPO.

For the 12 months ended Dec. 31, 2009, Panther generated revenue of $157.8 million, a decline of 17 percent from the prior year. It posted a net loss of $48.3 million.

The company plans to use the net proceeds from the offering partly to repay debt.

It intends to list its common stock under the symbol “PTHR.”

The filing did not reveal how many shares the company planned to sell or their expected price. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Aradhana Aravindan)