Plains GP Holdings prices the year's largest IPO at $22, the low end of the range
Plains GP Holdings, LP, which owns GP interests in midstream energy LP Plains All American Pipeline, raised $2.8 billion by offering 128 million shares at $22, the low end of the range of $22 to $25. Plains GP is the largest IPO of the year so far, eclipsing Zoetis' $2.2 billion in proceeds. Plains GP plans to list on the NYSE under the symbol PAGP. Barclays, Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Citigroup, UBS and Wells Fargo were the bookrunners on the offering.