PSP-backed Journey Energy to raise $198 mln in IPO: Reuters
Canadian exploration and production company Journey Energy Inc said on Friday it plans to raise $198 million via an initial public offering and secondary offering on the Toronto Stock Exchange, Reuters reported. The Calgary, Alberta-based company is selling 14 million shares from its treasury, while its principal shareholder PSP Investments is selling 2.5 million shares that it controls. PSP will continue to retain a stake of about 30 percent in the company following the close of the offer.
16 June 2014•1 min read
