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Thursday, December 15, 2011

Laredo Petroleum IPO shares prices december 14 2011

Laredo Petroleum IPO shares prices december 14 2011 : Laredo Petroleum's initial public offering of 17.5 million shares priced at $17 each late Wednesday, below the expected price range of $18 to $20 a share.

Founded in 2006, Laredo focuses on the exploration, development and acquisition of oil and natural gas in the Permian and Mid-Continent regions of the U.S. In addition to the repayment of debt, the independent energy company said it plans to use offering proceeds to fund future exploration and development, among other purposes.

For the nine months ended Sept. 30, Laredo saw earnings more than double to $104 million as revenue soared on sharply higher oil and gas sales. The company expects to begin trading Thursday on the New York Stock Exchange under the symbol LPI.

This week is expected to have a lively IPO market, with 11 companies slated to go public before activity slows for the holidays. That could make this week the busiest for debuts in more than four yearsFor the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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