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Permian Player Parsley Stock Roars Post IPO
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Parsley Energy Inc, opened higher Friday after the permian basin operator and some of its early shareholders sold more shares than planned at a higher price than expected in an IPO. The shares jumped 19% in morning trading.
Parsley and the existing holders sold 50 million shares for $18.50 each, raising $925 million before the potential sale of additional shares to underwriters.
The stock was trading at $21.95 minutes after its debut Friday morning.
Parsley joins the ranks of Diamondback Energy and Athlon Energy, both pure play permian players, who most recently IPO'd.
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