Rice Energy sets $19-$21 range for IPO


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

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Comments (8)
  • nemonemo
    , contributor
    Comments (337) | Send Message
     
    $ANR owns 25% of it.
    13 Jan 2014, 01:43 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    actually they just sold that 25% it was announced a few weeks back if I'm not mistaken
    13 Jan 2014, 02:14 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    Alpha Natural Resources (ANR +14%) powers higher after agreeing to sell its 50% interest in its Marcellus shale joint venture for $300M in cash and stock.

     

    How do you know its 25% did they disclose that?
    13 Jan 2014, 02:16 PM Reply Like
  • eztag45
    , contributor
    Comment (1) | Send Message
     
    ANR will own ~8% at IPO.
    13 Jan 2014, 05:45 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2860) | Send Message
     
    Rice has a slightly lower 9 month revenue number as MHR ($138.2 million) but Rice is valued at $2.7B and MHR has a market cap of $1.3B and an EV value of around $2.4B? MHR did have a much higher net loss, but still a strange disconnect.
    13 Jan 2014, 02:17 PM Reply Like
  • nemonemo
    , contributor
    Comments (337) | Send Message
     
    Funny part is all of shale assets ANR owns is worth around 1.5B. Higher than ANR market cap.
    13 Jan 2014, 11:32 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    I sent that to my friend yesterday nemonemo... I dont think they should have sold off probably be a good asset to have when $ANR goes bankrupt in 10-15 years.
    14 Jan 2014, 09:24 AM Reply Like
  • User 63931
    , contributor
    Comments (174) | Send Message
     
    Several of you seem to have a good handle on RICE. If you had access to the IPO would you request shares? Thanks, Bill
    21 Jan 2014, 11:45 AM Reply Like
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