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RSP Permian’s IPO Raises $390 Million

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January 21, 2014

RSP Permian Inc. (RSPP), a shale oil and gas explorer backed by private-equity fund Natural Gas Partners LLC, and existing owners raised $390 million after pricing an initial public offering (IPO) toward the low end of a marketed range.

The company, which explores in Texas’s Permian Basin, and shareholders sold 20 million shares at $19.50 each, after offering them for $19 to $21 apiece, according to terms for the deal obtained by Bloomberg News. The shares began trading Jan. 18 on the New York Stock Exchange under the symbol "RSPP". ...

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