Shell Midstream to start trading on NYSE
HOUSTON (AP) — Shell Midstream Partners LP is set to begin trading on the New York Stock Exchange.
Its initial public offering of 40 million common units raised $920 million.
The master limited partnership, which was created by Royal Dutch Shell to own, run, develop and acquire pipelines and other midstream assets, priced the offering at $23 per unit. That's above the projected price range of $19 to $21 per unit.
The Houston company's assets include stakes in Zydeco Pipeline Co., Mars Oil Pipeline Co., and Bengal Pipeline Co. The company also has a small stake in Colonial Pipeline Co., which owns pipelines running from Texas to the Northeast. The stock will be trading Wednesday under the ticker "SHLX."
Also, Sientra Inc. will also begin trading on the Nasdaq.