UPDATE 1-American Midstream Partners prices IPO
July 26 |
July 26 (Reuters) - American Midstream Partners LP, which operates and develops energy infrastructure assets, said its initial public offering of 3.75 million common units was priced at $21 apiece, the high end of its previously announced range.
The natural gas-focused company had expected to sell the common units at between $19-$21 each.
Citi and BofA Merrill Lynch were joint book-running managers for the IPO, American Midstream Partners said. The company is based Denver, Colorado.
Following the IPO, the public will own 40.6 percent of the company's outstanding equity, while AIM Midstream Holdings, LLC and directors and officers of the company's general partner will own the remaining equity.
The common units are expected to begin trading on the New York Stock Exchange on July 27 under the ticker symbol "AMID." (Reporting by Brenton Cordeiro)
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