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AP4 - Riverstone Holdings News Story

S$0.89 0.0  0.6%

Last Trade - 10:04am

Mid Cap
Market Cap £705.8m
Enterprise Value £471.8m
Revenue £562.3m
Position in Universe 1077th / 6152

BUZZ-Liberty Oilfield Services down on secondary offering

Tue 9th February, 2021 12:11pm
** Liberty Oilfield Services Inc  LBRT.N  shares down >7% at
$11.35 premarket after secondary offering prices
    ** LBRT announces sale of 8.7 mln shares by Riverstone
Holdings and Carlyle Group at $11.45  urn:newsml:reuters.com:*:nBw6mqR6Na
    ** Offering price represents 6.8% discount to LBRT last sale
    ** Morgan Stanley sole underwriter
    ** Riverstone and Carlyle cut their combined LBRT stake from
~16% to ~11%, per filing https://www.sec.gov/Archives/edgar/data/1694028/000119312521032512/d106618d424b7.htm#supprom106618_7
    ** Last month, LBRT completed its acquisition of rival
Schlumberger's  SLB.N  shale fracking business, OneStim, in
all-stock transaction with SLB taking 37% stake in LBRT, or
~66.3 mln shares  urn:newsml:reuters.com:*:nL4N2FY31F
    ** LBRT shares are up 19% to start 2021 as oil prices rally.
Stock has recovered from record low of $2.17 hit last Mar

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
lance.tupper@tr.com 1-332-219-1430))
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