Parsley Energy shares rise about 22 pct in debut

Fri May 23, 2014 9:55am EDT

May 23 (Reuters) - Parsley Energy Inc's shares rose as much as 21.5 percent in their U.S. market debut, valuing the oil and natural gas company at about $2.51 billion.

The company's initial public offering raised $925 million after its upsized offering of 50 million Class A shares was priced $18.50 per share, slightly above the top end of its expected price range of $15-$18.

Parsley offered 42.4 million shares, with selling stockholders offering the rest.

The company's shares opened at $22.30 and touched a high of $22.47.

Credit Suisse, Goldman Sachs & Co, J.P. Morgan and Wells Fargo Securities were the lead underwriters of the offering. (Reporting by Amrutha Gayathri and Avik Das in Bangalore; Editing by Kirti Pandey)