Antero Resources Plans to Raise as Much as $1.26 Billion in IPOJulie Alnwick
Antero Resources Corp., the natural-gas company backed by Warburg Pincus LLC, said it plans to raise as much as $1.26 billion in a U.S. initial public offering.
The company is offering 30 million shares at $38 to $42 each, according to a statement today. Barclays Plc, Citigroup Inc., JPMorgan Chase & Co., Credit Suisse Group AG, Jefferies Group LLC and Wells Fargo & Co. are managing the offering, Denver-based Antero said.
Antero, founded in 2002 by Chief Executive Officer Paul Rady and President Glen Warren, develops natural gas in the Appalachian Basin in West Virginia, Ohio and Pennsylvania. A group including Warburg Pincus and Yorktown Partners LLC funded the company in early 2003 and led a $1 billion line-of-equity financing in 2007.
The shares will be listed on the New York Stock Exchange under the symbol AR. Antero generated $736 million in revenue last year, up 6.4 percent from 2011, according to a previous regulatory filing.