EQT GP Holdings LP opened an IPO of 20 million common units, the company said May 4.

The common units represent a 7.5% limited partner interest in the partnership. EQT Corp. will hold a 92.5% limited partner interest and a non-economic general partner interest in the partnership.

Underwriters will be granted a monthlong option purchase 3 million additional units. The common units will list on the New York Stock Exchange under the ticker "EQGP."

Barclays, Goldman Sachs & Co., BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities Inc., J.P. Morgan, RBC Capital Markets and Wells Fargo Securities LLC are joint book-running managers.

MUFG, BNP Paribas, PNC Capital Markets LLC, Scotia Howard Weil, SunTrust Robinson Humphrey, Ladenburg Thalmann, Oppenheimer & Co. and U.S. Capital Advisors are co-managers.

EQT GP Holdings LP owns partnership interests in Pittsburgh-based EQT Midstream Partners LP.