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    Ovintiv Prices Public Offering of Shares for USD684.8 Million

    September 12, 2023 - Marketline - Deals


      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

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)


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