close

Rice Energy up slightly in NYSE debut

1 min read

Notice: Undefined variable: article_ad_placement3 in /usr/web/cs-washington.ogdennews.com/wp-content/themes/News_Core_2023_WashCluster/single.php on line 128

NEW YORK – Shares of Southpointe-based Rice Energy closed up in their first day of trading Friday while the broader markets declined.

The independent natural gas and oil company’s stock added $1.23 to close at $22.23.

Rice Energy Inc. said 44 million common shares were sold, above the 40 million shares expected. The initial public offering priced at $21 per share, the top of the projected range of $19 to $21 per share.

Rice Energy offered 30 million shares, while the selling stockholder – NGP Holdings – offered 14 million shares. The company won’t receive any proceeds from shares sold by NGP Holdings.

Rice plans to use net proceeds of about $594.5 million to repay debt and fund capital expenses.

Shares trades on the New York Stock Exchange under the “RICE” symbol.

CUSTOMER LOGIN

If you have an account and are registered for online access, sign in with your email address and password below.

NEW CUSTOMERS/UNREGISTERED ACCOUNTS

Never been a subscriber and want to subscribe, click the Subscribe button below.

Starting at $3.75/week.

Subscribe Today