Privately-held natural gas exploration and production company Rice Energy is planning for an initial public offering that could value the company at as much as $2.5 billion, according to people familiar with the matter. Rice Energy, which was founded by a former BlackRock Inc portfolio manager and his children, has already filed a confidential registration statement with U.S. regulators, three of the people said, asking not to be identified because the matter is not public.It has tapped Barclays PLC to lead the IPO, two of the people said.The family-owned company, which has focused its efforts on Pennsylvania's Marcellus shale and Ohio's Utica shale, could have an enterprise value between $1.5 billion to $2.5 billion, according to one of the people. The company is targetting early 2014 for its IPO, the people said.Private equity firm Natural Gas Partners (NGP) has also backed the company. Since 2011, NGP has committed to invest up to $400 million with Rice Energy.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 1.46% or $0.26/share to $18.06. In the past year, the shares have traded as low as $13.31 and as high as $18.99. On average, 2347590 shares of BCS exchange hands on a given day and today's volume is recorded at 1958663.
BlackRock, Inc. (BlackRock) is an investment management firm. Shares of BLK traded higher by 2.47% or $6.96/share to $289.23. In the past year, the shares have traded as low as $185.20 and as high as $298.14. On average, 620600 shares of BLK exchange hands on a given day and today's volume is recorded at 581186.
The Children's Place Retail Stores, Inc. operates as a specialty retailer of apparel and accessories for children. Shares of PLCE traded higher by 1.68% or $0.875/share to $52.80. In the past year, the shares have traded as low as $42.21 and as high as $62.24. On average, 424560 shares of PLCE exchange hands on a given day and today's volume is recorded at 246592.
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