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Lone Pine Resources prices IPO at $13, below the range

May 26, 2011
LPR

Lone Pine Resources, a carve-out of Forest Oil's Canadian E&P operations, raised $195 million on Wednesday by offering 15 million shares at $13, below the range of $18 to $20. Lone Pine Resources plans to list its shares on the NYSE and TSX under the symbol LPR. J.P. Morgan, Credit Suisse, and TD Securities acted as lead managers on the deal.