Tallgrass Energy GP LP (TEGP) opened its IPO of about 35.3 million Class A shares representing limited partner interests, the company said April 27.
The shares will list on the New York Stock Exchange under the ticker “TEGP.”
The underwriters will be granted an option to purchase about 5.3 million additional shares, the company added.
Citigroup, Goldman Sachs & Co., BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities Inc., Morgan Stanley, RBC Capital Markets and Wells Fargo Securities LLC are joint book-running managers. Baird, Scotia Howard Weil, Stifel, Tudor, Pickering, Holt & Co. and U.S. Capital Advisors are co-managers.
When the offer closes, TEGP will own membership interests in Tallgrass Equity LLC (TEP GP), which will fully own a membership interest in Tallgrass MLP GP LLC. TEP GP will also own 20 million Tallgrass Energy Partners LP (TEP) common units. TEP GP owns all of the incentive distribution rights and a 1.37% general partner interest in TEP.
TEP is based in Leawood, Kan.
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