Rice Energy, a natural gas exploration and production company operating in the Appalachian Basin, announced terms for its IPO on Monday. The Canonsburg, PA-based company plans to raise $800 million by offering 40.0 million shares (25% insider) at a price range of $19 to $21. At the midpoint of the proposed range, Rice Energy would command a market value of $2.6 billion.
Rice Energy, which was founded in 2008 and booked $72 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol RICE. Rice Energy initially filed confidentially on October 3, 2013. Barclays, Citi, Goldman Sachs, Wells Fargo Securities, BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal.
