Antero Midstream GP LP made an initial public offering of 37.25 million common shares representing limited partner interests in the company at an anticipated price between $22 and $25 per common share.
Antero will be listed on the New York Stock Exchange under the symbol “AMGP.” AMGP will own the general partner of Antero Midstream Partners LP (NYSE: AM).
Common shares offered represent an approximate 20% limited partner interest in AMGP (or approximately 23% if the underwriters exercise in full their option to purchase additional common shares). Immediately following the offering, Antero Resources Investment LLC will own the remaining approximate 80% limited partner interest in AMGP (or approximately 77% if the underwriters exercise in full their option to purchase additional common shares).
Morgan Stanley, Barclays and J.P. Morgan will act as joint book-running managers for the offering. Baird, Citigroup, Goldman Sachs and Wells Fargo Securities will act as book-running managers.
In connection with the offering, Antero Resources Midstream Management LLC will be converted into a Delaware limited partnership, and, in connection with such conversion, will change its name to Antero Midstream GP LP.
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