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Devon Energy midstream spinoff files for a $400 million IPO
By: Renaissance Capital
Devon Midstream Partners LP, a Devon Energy-backed midstream MLP formed to own and operate natural gas assets, filed on Friday with the SEC to raise up to $400 million in an initial public offering. The Oklahoma City, OK-based company, which was founded in 2013 and booked $2.2 billion in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol DVNM. BofA Merrill Lynch and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.