New York-based Hess plans to issue 25,000 common shares and 10 million depository shares to the public.
Each depository share represents a 5% interest in one share of the company’s series A mandatory convertible preferred stock, which will convert to common shares in 2019.
Hess has not yet priced the offering or determined the conversion rate of the convertible equities, which are being offered independently of one another.
