Quest Resource Corp. sub files IPO
Shares of Quest Resource Corp. (Nasdaq: QRCP) got a boost Friday morning after the natural gas producer said its subsidiary Quest Energy Partners L.P. filed with the Securities and Exchange Commission for an initial public offering of 8.75 million common units.
In the filing, the Oklahoma City-based company said it plans to use the proceeds from the offering along with a $75 million credit facility to pay off debt under existing credit facilities of its parent, Quest Resource.
The filing did not divulge the price range of the shares to be offered, but specified a total maximum offering price of $211.3 million.
Shares of Quest Resource climbed 9.39%, or $1.03, to $12.00 Friday morning.
