Delaware-based Dominion Resources Inc. subsidiary Dominion Midstream Partners LP launched its IPO of 17,500,000 common units representing limited partner interests pursuant to a Registration Statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission. Dominion Midstream will also grant the underwriters a 30-day option to purchase up to an additional 2,625,000 common units at the IPO price. Dominion Midstream will list its common units on the New York Stock Exchange under the ticker symbol “DM,” subject to official notice of issuance.
The common units offered represent a 27.4% limited partner interest in Dominion Midstream, or a 31.5% limited partner interest if the underwriters purchase the additional common units. Dominion, through certain of its subsidiaries, will own the remaining 72.6% limited partner interest in Dominion Midstream, or 68.5% if the underwriters purchase the additional common units.
Barclays, Citigroup, J.P. Morgan, BofA Merrill Lynch, Goldman, Sachs & Co., UBS Investment Bank and Morgan Stanley are acting as joint book-running managers for the offering. RBC Capital Markets and Scotiabank/Howard Weil are acting as co-managers.
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