- Riverstone Energy has participated in a public offering of its shares in Centennial Resource Development.

The move resulted in the sale of 4,346,633 shares, equivalent to 18.2% of its total investment in Centennial.

The selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 3,750,000 additional shares. If exercised, this would result in the sale of up to an additional 651,995 shares by Riverstone.

Its holding in Centennial, pro forma for the transaction and excluding the option for underwriters to purchase additional shares, is 19,542,288 shares, which results in a gross unrealised value of $411m, based on the Centennial share price at yesterday's market close.

At 8:33am: [LON:RSE] Riverstone Energy Limited share price was +18p at 1329p

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