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QEP Midstream Partners LP Announces Pricing Of Initial Public Offering


Thursday, 8 Aug 2013 07:13pm EDT 

QEP Midstream Partners LP announced that it has priced its Initial Public Offering of 20,000,000 common units at $21.00 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 3,000,000 common units from QEPM at the same price. The common units are expected to begin trading on the New York Stock Exchange on August 9, 2013 under the ticker symbol QEPM. The offering is expected to close on or about August 14, 2013. Upon conclusion of the offering, the public will own a 36.7% limited partner interest in the Partnership, or a 42.2% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units. QEP Resources Inc through certain of its subsidiaries, will hold a 2.0% general partner interest, all of the incentive distribution rights, and a 61.3% limited partner interest in the Partnership, or a 55.8% limited partner interest if the underwriters exercise, in full, their option to purchase additional units. Wells Fargo Securities, Morgan Stanley, Citigroup, Deutsche Bank Securities and J.P. Morgan are acting as joint book-running managers for the offering; Goldman, Sachs & Co. is acting as a senior co-manager and BMO Capital Markets, SunTrust Robinson Humphrey, BB&T Capital Markets, CIBC, Mitsubishi UFJ Securities, Piper Jaffray, TD Securities and Janney Montgomery Scott are acting as co-managers for the offering. 

Company Quote

16.11
0.28 +1.77%
26 Dec 2014