Western Gas Equity sets terms for $300 million IPO

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Western Gas Equity Partners, an LP formed to own, operate, acquire and develop midstream energy assets, announced terms for its IPO on Monday. The Woodlands, TX-based company plans to raise $300 million by offering 15 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Western Gas Equity Partners, LP would command a fully diluted market value of $4.2 billion. Western Gas Equity, which was founded in 2012 and booked $852 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol WGP. Barclays, Citi, Deutsche Bank and Morgan Stanley 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 The NASDAQ OMX Group, Inc.



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