Seeking Alpha

Antero Resources rallies on first trading day

  • Antero Resources (AR +18.2%) opened for trading at ~$55 and remains sharply higher after pricing its IPO at $44/share, as AR’s size and the efficiency of its wells located in productive areas of the Marcellus and Utica shale plays draw investors to the deal.
  • AR originally expected to sell 30M shares for $38-$42 each, but agreed to sell 35.7M shares at $44 and cut marketing a day earlier than planned because of strong demand.
  • The $1.5B deal value, which could rise if underwriters exercise their option to buy more shares, marks the largest U.S.-listed IPO for an oil and gas company since Statoil’s $2.9B debut in June 2001.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: