Oil and natural gas E&P RSP Permian sets terms for $400 million IPO
RSP Permian, an oil and natural gas E&P operating in the
Permian Basin, announced terms for its IPO on Tuesday. The
Dallas, TX-based company plans to raise $400 million by offering
20.0 million shares (54% insider) at a price range of $19 to $21.
At the midpoint of the proposed range, RSP Permian would command
a market value of $1.5 billion.
RSP Permian, which was founded in 2010 and booked $113 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol RSPP. RSP Permian initially filed confidentially on October 8, 2013. Barclays, J.P. Morgan, Tudor, Pickering, Holt & Co., Raymond James, RBC Capital Markets and UBS Investment Bank are the joint bookrunners on the deal.