Riverstone Energy Confirms Centennial Proceeds After Offer Pricing (ALLISS)

9th Mar 2018 09:10

LONDON (Alliance News) - Resource investor Riverstone Energy Ltd said Friday it will net USD85.1 million after investee Centennial Resource Development Inc priced its underwritten public offering.

The price of the offering, which Riverstone announced on Tuesday, has been set at USD19.50 per share.

Riverstone has sold 4.4 million shares in Centennial, 22% of its unrealised investment in the Nasdaq-listed firm. In November last year, it sold 4.3 million Centennial shares for USD86.7 million.

It now holds 15.2 million shares in the company, having originally invested USD175.0 million in October 2016 at a price of USD10.00 per share, and a further USD93.0 million in December that year at USD14.54 per share.

Riverstone shares were down 0.2% on Friday morning at 1,186.20p.

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