IPO News Archive
Offshore E&P company Cobalt International announces details of planned IPO

11/27/09


Cobalt International Energy, an independent E&P firm with deepwater prospects in the Gulf of Mexico and off the West African coast, announced terms for its IPO on Friday. The Houston, TX-based company plans to raise $1 billion by offering 63 million shares at a price range of $15.00 to $17.00. At the mid-point of the proposed range, Cobalt will command a market value of $5.3 billion. Cobalt International Energy, which was founded in 2005 and has no proved oil and gas reserves to date, plans to list on the NYSE under the symbol CIE. Credit Suisse, Goldman Sachs, and J.P. Morgan are the lead underwriters on the deal.

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Source: www.RenaissanceCapital.com
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