Kosmos raises 10% above target in $594m IPO

Bermuda-based Kosmos Energy Ltd, the oil and natural-gas company owned by Warburg Pincus LLC and Blackstone Group LP, gained 1.3 percent in its first day of trading after raising $594 million in its initial public offering.

The exploration and production company sold 33 million shares at $18 each, 10 percent more than it sought, according to a statement. Shares of the company, a partner in the Jubilee oil field off the coast of Ghana, rose 24 cents to $18.24 in New York Stock Exchange composite trading reports Royal Gazette Online