Construction Partners Inc. set terms of its initial public offering Monday, in which the Alabama-based civil infrastructure company expects to raise up to $114.75 million and selling shareholders could raise up to $76.50 million. The company said it will not receive proceeds from shares sold by shareholders. Construction Partners is offering 6.75 million Class A common shares in the IPO, which is expected to price between $15 and $17 a share, while selling shareholders are offering 4.50 million shares. The selling shareholders have granted the underwriters of the offering options to buy up to an additional 1.69 million shares. The company applied to have its shares listed on the Nasdaq Global Select Market under the symbol "Road." Baird, Raymond James and Stephens are the lead underwriters. For the fiscal year ended Sept. 30, 2017, the company had net income of $26.0 million, or 63 cents a share, up from $22.0 million, or 51 cents a share, in the same period a year ago. Revenue rose to $568.2 million from $542.3 million. The company is going public at a time the Renaissance IPO ETF has slipped 0.1% over the past three months and the S&P 500 has lost 5.7%.