The energy company LaredoPetroleum intends to trade on on the New York Stock Exchange, and expects to issue 17.50 million shares at the price $17 per share, lower than the earlier expected IPO price range of analysts which was between $18-20 per share.
Statistics data show that from 2008 to 2010, the company’s net profit was -19.2 billion, -18.45 million and $ 862 million, respectively. In the first nine months of this year, LaredoPetroleum profit doubled over the same period and reached U.S. $104 million, benefitting from the increase of the oil and gas sales. The company’s revenue also grew.