Parsley Energy Inc. Readies IPO Under Symbol NYSE: PE

Brian Hicks

Written By Brian Hicks

Posted May 13, 2014

Permian Basin oil and gas exploration and production company Parsley Energy Inc. announced the launch of its initial public offering of 43.9 million shares of Class A common stock, which will come in at an initial offering price somewhere between $15.00 and $18.00.

The company first filed back in December and publicized its intent to raise $400 million in a Class A stock offering in April. Parsley Energy said it would use the IPO funds to reduce its existing debt and pay “general corporate” expenses.

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