Western Gas Equity sets terms for $300 million IPO

By Renaissance Capital,

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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.

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This article appears in: News Headlines IPOs
Referenced Stocks: WGP

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