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SandRidge MS Trust II prices IPO at $21, at the high end of the range

By Renaissance Capital,  April 18, 2012, 09:06:08 AM EDT

SandRidge Mississippian Trust II, a trust formed to own interests in oil and gas wells in the Mississippian formation, raised $546 million by offering 26 million shares at $21, at the high end of the range of $19 to $21. At the offer price, the trust is offering a 9.0% 2012 yield. SandRidge Mississippian Trust II plans to list on the NYSE under the symbol SDR. Morgan Stanley, Raymond James, BofA Merrill Lynch, Citigroup and RBC Capital Markets acted as lead managers on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, IPOs

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