Shale Gas IPO Disappoints

摘要

Shares of gas producer Vine Energy fell 2% in their market debut Mar.18,after the Blackstone-backed company failed to impress investors in what was the first initial public offering(IPO)by a US shale producer since 2017.The lackluster debut underscores a lack of investor optimism toward the shale industry,despite oil and gas prices rebounding from last year,when they crashed due to the Covid-19 pandemic.Vine Energy priced its offering of 21.5 million shares at $14/share on Wednesday,below the expected range,Reuters reported.The company raised $301 million in its IPO.Its stock opened at $13.75 per share,giving the company a valuation of $952.7 million.