Vanguard Natural Resources IPO raises $99.75 mln
NEW YORK, Oct 23 (Reuters) - Vanguard Natural Resources LLC raised $99.75 million on Tuesday with an initial public offering that priced at the low end of a forecast range.
The offering of 5.25 million common units priced at $19, compared with a forecast range of $19 to $21 per unit, cut from an earlier forecast of $22 to $24, according to an underwriter.
Underwriters led by Citigroup (C.N: Quote, Profile, Research, Stock Buzz) have the option to purchase an additional 750,000 shares to cover overallotments.
(Reporting by Lilla Zuill)
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