MPLX LP, a LP formed by Marathon Petroleum Corporation to own and operate pipelines and other midstream assets in the Midwest and Gulf Coast regions, filed on Tuesday with the SEC to raise up to $365 million in an initial public offering. Marathon Petroleum trades on the NYSE under the ticker MPC.
The Findlay, OH-based company, which was founded in 2012 and booked $418 million in revenue for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol MPLX. UBS Investment Bank and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.
