Infinity Natural Resources valued at $1.3 bln in NYSE debut (updated)

Infinity Natural Resources

31/01/2025 17:04

(Adds more details throughout)
       Jan 31 (Reuters) - Private equity-backed Infinity
Natural Resources  INR.N  was valued at $1.30 billion after
shares of the oil and natural gas producer rose 10.8% in their
New York Stock Exchange debut on Friday.
    The Morgantown, West Virginia-based company's stock opened
at $22.16, above the initial public offering price of $20.
    Infinity, backed by buyout firms Pearl Energy Investments
and NGP, sold 13.25 million shares within the marketed range of
$18 and $21 to raise $265 million.
    The listing comes against the backdrop of a more fossil
fuel-friendly Trump administration amid a steady stream of
energy IPOs.
    President Donald Trump last week declared a national energy
emergency to boost U.S. oil and natural gas production.

 (Reporting by Atharva Singh and Arasu Kannagi Basil in
Bengaluru; Editing by Leroy Leo and Shilpi Majumdar)
 ((atharva.singh@thomsonreuters.com))