LINN Energy LLC (Nasdaq: LINE) announced that LinnCo LLC (Nasdaq: LNCO), a wholly-owned subsidiary of LINN, has commenced an initial public offering of 30,250,000 common shares representing limited liability company interests in LinnCo.
The underwriters will be granted a 30-day option to purchase an additional 4,537,500 common shares. The common shares have been approved for listing on the NASDAQ global select market and subject to official notice of issuance will trade under the symbol "LNCO".
Barclays, Citigroup, RBC Capital Markets, Wells Fargo Securities, BofA Merrill Lynch, Credit Suisse, Raymond James and UBS Investment Bank will act as the joint book-running managers in the transaction. Goldman, Sachs & Co., and J.P. Morgan, will act as senior co-managers in the transaction. Baird, BMO Capital Markets, Credit Agricole CIB, CIBC, Scotiabank/Howard Weil and Mitsubishi UFJ Securities will act as the co-managers in the transaction.
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