NEW YORK—Equitable Resources Inc., a Pittsburgh-based natural-gas company, said Monday it will publicly offer 7.5 million shares of stock. The offering is valued at $503.2 million at Monday's closing price of $67.09.
The company said it will give its underwriters a 30-day window to purchase an additional of 1.1 million shares to cover over-allotments.
Deutsche Bank Securities Inc., Banc of America Securities LLC, Credit Suisse Securities LLC and Lehman Brothers Inc. are underwriting the offering, the company said.
Equitable Resources has 122.2 million shares outstanding, according to a filing with the Securities and Exchange Commission.
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