Diversified Energy Company PLC (LSE:DEC, NYSE:DEC, FRA:DG20) noted a secondary share sale undertaken by shareholder EIG, via Citigroup, with shares sold at US$14.45 a share, as the private equity-backed firm exited its remaining stake in the company.
DEC bought back around half of the EIG-held shares, and the rest were sold via an underwritten public offer, managed by Citi.
The London-listed, US-based oil and gas firm did not sell any stock into the transaction, and will not receive any proceeds from the secondary offering.