12:00 PM EDT, 06/27/2024 (MT Newswires) -- Tamboran Resources (TBN) shares fell in their trading debut on the New York Stock Exchange on Thursday after the company priced its initial public offering of about 3.13 million shares at $24.00 a share.

The stock was down almost 8% at $22.15 in recent trading after opening at $22.50.

The underwriters, including BofA Securities, Citigroup, and RBC Capital Markets, were given a 30-day option to buy up to an additional 468,750 shares.

The offering to raise about $75 million is expected to close Friday.

Price: 22.30, Change: -1.70, Percent Change: -7.08