Parsley Energy Shares Slide On Announced Secondary Offering

By Wallace Witkowski Markets MarketWatch Pulse

Parsley Energy Inc. shares fell in the extended session Tuesday after the independent oil and natural gas company announced a secondary offering of its shares. Parsley shares fell 4.3% to $35.09 after hours. The company said it plans to offer 20 million shares, with an additional 3 million optional shares to underwriters. Morgan Stanley and BMO Capital Markets are the joint lead bookrunners for the offering. Parsley already has nearly 180 million shares outstanding.

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