Deals
Permian’s LandBridge Prices IPO Below Target for $246.5 Million
Photographer: Jordan Vonderhaar/Bloomberg
This article is for subscribers only.
LandBridge Co., the owner of land used in oil and gas production in the Permian Basin, raised $246.5 million in an initial public offering, pricing its shares below a marketed range.
The Five Point Energy-backed company sold 14.5 million shares Thursday for $17 each after marketing them for $19 to $22, according to a statement.