The wild ride at Cheniere Energy (LNG) continued Tuesday night and into Wednesday, as the company announced an equity offering of 8.7 million shares. Underwriters have the option to sell an additional 1.3 million shares to cover any over allotments, and funds raised will be for general corporate purposes. Wednesday morning the size of the offering was raised to 11 million shares, priced at $10.35. Shares have been moving heavily all year on various news stories from debt problems to natural gas demand to approval to export natural gas from Louisiana. Now with shares in LNG falling 9% on news of the equity offering, investors should take a minute to look back on the year the stock has already had.
- Shares started rallying from below $3 in mid-October, as the company continued to position itself to be allowed to export liquefied natural gas [LNG] from its Sabine Pass LNG terminal.
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Salma Hayek Jennifer Scholle Tatiana Zavialova Tila Tequila Tamie Sheffield
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