Plains All American Pipeline GP sets terms for $3 billion IPO

By Renaissance Capital,

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Plains GP Holdings, LP, which owns the GP and a portion of the LP in Plains All American Pipeline LP ( PAA ), a transportation, storage and terminaling firm for oil and natural gas products, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $3.0 billion by offering 128.0 million shares at a price range of $22 to $25. At the midpoint of the proposed range, Plains GP Holdings, LP would command a fully diluted market value of $14.2 billion.

Plains GP Holdings, LP, which was founded in 2013, plans to list on the NYSE under the symbol PAGP. Barclays, Goldman Sachs and J.P. Morgan, are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: PAA , PAGP

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