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Pennvirginia stock issue priced at $19 per share

Source: Internet
Author: User
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Beijing time Tuesday Evening News, oil and gas producer Penn Virginia Corp. said the 3.5 million common shares planned for public distribution have been priced at $19 a share, lower than its 20.22-dollar closing price in Monday.　　The company is expected to receive about 66.5 million dollars in revenue from the release.　　The company also granted the underwriters the option to subscribe for up to 525,000 shares within 30 days to meet the possible excess placement requirements.　　The company said it would use the proceeds from the issue to repay some of its loans under its revolving line of credit, as well as general operating purposes. JP Morgan Bond and RBC Capital Markets Corp. will be the joint Account manager for the issue.

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