Dec 16 Natural gas exploration and production
company Rice Energy Inc filed with U.S. regulators on Monday to
raise up to $800 million in an initial public offering of its
The family-owned company is focused on Pennsylvania's
Marcellus shale and Ohio's Utica shale.
The firm was founded by former BlackRock Inc
portfolio manager Daniel Rice and his children in 2008.
Rice left BlackRock last year in the wake of a potential
conflict of interest that involved the energy company.
Rice's son, Daniel Rice, is the chief executive of Rice
Alpha Natural Resources Inc said last week it would
sell its 50 percent interest in its shale joint venture with
Rice Energy for $200 million in shares in the IPO and $100
million in cash.
Barclays Capital is the lead underwriter for the offering,
Rice Energy told the U.S Securities and Exchange Commission in a
preliminary prospectus. ()
The filing did not reveal how many shares the company
planned to sell or their expected price.
The company intends to list its common stock on the New York
Stock Exchange under the symbol "RICE".
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.