Monday, Continental Resources Inc. (CLR) revealed the pricing of its initial public offering of 29,500,000 shares of its common stock at $15.00 per share. The shares are listed on the New York Stock Exchange under the symbol CLR. While Continental Resources is selling 8,850,000 shares, Harold Hamm, the chairman and chief executive officer and principal shareholder of the company is selling 20,650,000 shares in this offering. Additionally, Hamm has granted the underwriters a 30-day option to purchase up to an additional 4,425,000 shares of common stock at the same price to cover over allotments. The offering is expected to close on May 18, 2007, subject to customary closing conditions. The company intends to use the net proceeds that it will receive from the sale of the 8,850,000 shares in the offering to repay outstanding indebtedness under its revolving credit facility.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.