Rice Energy sets $19-$21 range for IPO

|About: Rice Energy Inc (RICE)|By:, SA News Editor

At $21, the natural gas exploration and production company would raise $840M, and be valued at $2.7B. The company itself is offering 30M shares, with selling shareholders offering the other 10M.

The largest shareholder, NGP Holdings, will see its stake slip to 26.1% from 44.4%. The business was founded by former BlackRock portfolio manager Daniel Rice and family, with Rice exiting the asset manager in 2012 amid a potential conflict of interest. It reported revenues of $123.7M and a net loss of $7.8M for the nine months ended on September 30.

It will trade on the Big Board under the symbol RICE.

SEC Form S-1