Riverstone Energy shares rise as USD200 million tender offer launched

Thu, 08th Feb 2024 10:05

(Alliance News) - Riverstone Energy Ltd on Thursday said it has proposed a USD200 million tender offer of shares.

Shares in Riverstone Energy rose 13% to 902.00 pence each in London on Thursday morning.

The Guernsey-based investor in renewable and non-renewable energy companies priced the shares at GBP10.50 each.

The tender price represents a premium of approximately 31% to the closing market price per ordinary share of GBP8.00 on Thursday.

The company said it expects to launch the tender offer before the end of this month and that it will close during March.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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