Warburg Pincus-backed Antero Resources to raise $1.57bn from IPO


Private equity-backed oil and gas developer Antero Resources is set to garner a valuation of over $11bn when it lists on today on the New York Stock Exchange.

The company has sold 35.73 million shares at $44 each, raising $1.57bn, having previously only planned to sell 30 million shares at between $38 and $42 each.

The company currently holds 311,000 in the Marcellus shale formation and 92,000 in the Utica shale.

It said it intends to use the net proceeds to repay outstanding borrowings under its credit facility.

The company is majority owned by private equity firm Warburg Pincus, alongside sector-focused investment firm Yorktown Energy Partners.

Earlier this year Warburg Pincus agreed to lead a $600m investment round for oil and gas exploration and production company Delonex Energy.

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