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Inergy L.P.'s natural gas storage unit files for an IPO

August 24, 2011

Inergy Midstream, an Inergy L.P. spin-off of its natural gas storage facilities and pipelines unit registered with the SEC for a $300 million initial public offering on Wednesday. The Kansas City, MO-based company currently owns assets in New York and Pennsylvania and booked $106 million in revenues for the 12 months ended June 30, 2011. Morgan Stanley and Barclays Capital have been selected to manage the offering, and the stock is expected to list on the New York Stock Exchange under the symbol NRGM.