Paramount Resources Sells $75 Million In NuVista Shares-March 2024-www.financetom.com

Paramount Resources Sells $75 Million In NuVista Shares

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Paramount Resources Sells $75 Million In NuVista Shares

Apr 12, 2024 5:15 AM

07:58 AM EDT, 04/12/2024 (MT Newswires) -- Paramount Resources ( PRMRF ) , which rose almost 2% yesterday, said on Friday that it raised $75 million by selling 6 million shares of NuVista Energy ( NUVSF ) .

Paramount sold the shares at $12.50 apiece in a block trade through the TSX. Paramount said it sold the NuVista shares to raise cash.

Following the transaction, Paramount's stake in NuVista dropped to 15.15% from 18.05%.

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