Ovintiv Prices Public Offering of Shares for USD684.8 Million

Deal In Brief

Ovintiv Inc, an oil and natural gas exploration and production company, has priced public offering of 15 million shares of its common stock at an issue price of USD45.65 per share, for a gross proceeds of USD684.8 million. The shares will be sold by NMB Stock Trust. J.P. Morgan is acting as underwriter to the company for the offering. Gibson, Dunn & Crutcher LLP, Covington & Burling LLP, Potter Anderson & Corroon LLP and Cravath, Swaine & Moore LLP are acting as legal advisors to the company for the offering

The transaction is expected to close on September 13, 2023, subject to customary closing conditions.

Deal Value (US$ Million)	684.8
Deal Type	IPO
Sub-Category	Pricing,Secondary Offering
Deal Status	Announced: 2023-09-11

Deal Participants

Target (Company)	EnCana Corporation
Vendor (Company)	NMB Stock Trust

Deal Rationale

Offer Price ($ per share)	45.65
No. Shares Issued	15000000

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