Tallgrass Energy LP sets terms for $287 million IPO

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Tallgrass Energy Partners, an LP formed to own, operate, acquire and develop midstream energy assets, announced terms for its IPO on Monday. The Overland Park, KS-based company plans to raise $287 million by offering 13.1 million shares at a price range of $21 to $23. At the midpoint of the proposed range, Tallgrass Energy Partners, LP would command a market value of $535 million. 

Tallgrass Energy Partners, LP, which was founded in 2013 and booked $256 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol TEP. Tallgrass Energy Partners, LP initially filed confidentially on 2/11/2013. Barclays, Citi, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. The deal is scheduled to price May 13.

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

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