EQT Midstream Partners, which operates a 700-mile pipeline system to transmit natural gas from the Appalachian basin, announced terms for its IPO on Monday. The Pittsburgh, PA-based company plans to raise $250 million by offering 12.5 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, EQT Midstream Partners would command a market value of $708 million. EQT Midstream Partners, which was founded in 2012 and booked $114 million in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol EQM. Citi and Barclays are the joint bookrunners on the deal.
