Rice Midstream Partners LP launches IPO
CANONSBURG — Rice Energy Inc. said Monday it has begun the Rice Midstream Partners LP initial public offering of 25,000,000 common units representing limited partner interests.
The offering is at an anticipated initial public offering price between $19.00 and $21.00 per common unit.
Rice Midstream also expects to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 common units. It has been approved to list its common units on the New York Stock Exchange under the symbol “RMP,” subject to official notice of issuance.
The common units being offered represent an approximate 43.5 percent limited partner interest in Rice Midstream. Rice Energy and its affiliates will own the remaining approximately 56.5 percent limited partner interest in Rice Midstream. Southpointe-based Rice Energy will own the general partner of Rice Midstream and all of its incentive distribution rights.
Barclays, Citigroup, Wells Fargo Securities, Goldman, Sachs & Co. and RBC Capital Markets are acting as joint book-running managers for the offering.