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NEW YORK - Diversified Energy Company PLC has officially ended its share stabilization period, Citigroup (NYSE:C) Global Markets Inc announced today. The stabilization was part of the company’s recent public offering in the United States, which involved up to 8.5 million ordinary shares, excluding the over-allotment option, at a price of US$14.50 each.
Stabilization activities, which are market operations intended to support the price of a company’s shares following an offering, were conducted on the New York Stock Exchange between February 20 and February 27, 2025. The transactions ranged in price from $13.59 to $14.40. Despite having the option to issue an additional 850,000 shares, the over-allotment was not exercised.
The end of the stabilization period marks a significant milestone in the company’s capital-raising efforts and provides investors with a clearer picture of the stock’s market performance post-offering. It is important to note that this announcement is not intended as an inducement to engage in investment activity, and the securities were only available to certain qualified investors in the UK and the European Economic Area.
No public offering of the shares is being made in Australia, Japan, or South Africa, and the shares may not be offered or sold in these countries, subject to specific exceptions. The announcement, which is based on a press release statement, also clarifies that the information provided does not constitute investment advice or a personal recommendation.
The London Stock Exchange (LON:LSEG)’s news service, RNS, which is approved by the Financial Conduct Authority in the UK, provided this information, underscoring the regulated nature of the announcement and the company’s adherence to financial market rules and practices.
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