04:33 AM EDT, 06/28/2024 (MT Newswires) -- LandBridge Company ( LB ) said Friday it priced its initial public offering of 14.5 million class A shares at $17 per share.

Underwriters have been granted a 30-day option to buy up to about 2.2 million additional class A shares.

The shares are expected to begin trading on the New York Stock Exchange this Friday, under the ticker symbol, "LB."

In addition to the class A shares, the company also agreed to sell 750,000 class A shares priced at $17 per share in a concurrent private placement to an accredited investor.

Net proceeds are estimated to be about $236.1 million, or $270.9 million if the underwriters fully exercise their overallotment option.

The IPO is set to close on July 1.