South American E&P GeoPark prices IPO at $7, low end of the revised range

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GeoPark, an oil and natural gas E&P operating in Chile, Colombia and Brazil, raised $95 million by offering 13.5 million shares at $7, the low end of its downwardly revised range. The company had previously filed to offer 20.0 million shares at a range of $8 to $10. Insiders, including its CEO, Chairman and two key shareholders, are purchasing up to $60 million of the offering (63% of the deal). GeoPark now commands a market cap of $402 million (down 30% from its previously proposed market cap of $575 million) and an enterprise value of $506 million.




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This article appears in: News Headlines , IPOs

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