By September 7, 2016 Read More →

Noble Midstream expects to raise up to $263 mln in IPO

Noble Midstream

Noble Midstream withdrew its initialĀ IPO bid last November due to weak oil prices.

Noble Midstream offering 12.5 million common units between $19 and $21

Sept 7 (Reuters) – Noble Midstream Partners LP expects to raise as much as $263 million in its initial public offering after withdrawing plans to go public earlier.

The wholly owned unit of Noble Energy Inc said on Wednesday it expects to price the offering of 12.5 million common units at between $19 and $21.

The Houston, Texas-based company shelved its plan to go public in November due to a slump inĀ oil prices. It first filed for an IPO on Oct. 22.

This year marks a rough patch for IPOs. Freeport-McMoRan Inc’s oil and gas business withdrew its IPO in May as weak oil prices dented valuations of oil producers.

Only two or three oil and gas producers are expected to start trading by the end of 2016, sources had told Reuters.

Further offerings, as many as eight more, could have IPOs by mid-2017 depending on shareholder reception and the price of oil, they said.

Barclays, Baird, J.P. Morgan, BofA Merrill Lynch, Citigroup, and Deutsche Bank Securities are among underwriters to the Noble Midstream offering.

(Reporting by Sruthi Shankar in Bengaluru)

Ph: 432-978-5096 Website: www.mapleleafmarketinginc.com

Ph: 432-978-5096 Website: www.mapleleafmarketinginc.com

Posted in: News

Comments are closed.