Rice Energy Inc. has begun its initial public offering of 40 million shares of its common stock, at an anticipated IPO price between $19.00 and $21.00 per share. The company is offering 30 million shares of its common stock, and the selling stockholder named in the registration statement is offering 10 million shares of the company’s common stock.
The selling stockholder also expects to grant the underwriters a 30-day option to purchase up to an additional 6 million shares of Rice Energy‘s common stock from the selling stockholder if the underwriters sell more than 40 million shares of the company’s common stock. The company has been approved to list its common stock on the New York Stock Exchange under the symbol “RICE.”
Barclays, Citigroup, Goldman, Sachs & Co., Wells Fargo Securities, BMO Capital Markets, and RBC Capital Markets will act as joint book-running managers of the offering.