Tallgrass Energy GP LP, which holds GP and LP interests in midstream natural gas LP Tallgrass Energy, announced terms for its IPO on Monday.
The Leawood, KS-based company plans to raise $900 million by offering 35.3 million shares at a price range of $24 to $27. At the midpoint of the proposed range, Tallgrass Energy GP LP would command a fully diluted market value of $4.0 billion.
Tallgrass Energy GP LP, which was founded in 2015 and booked $372 million in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol TEGP. Citi, Goldman Sachs, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of May 4, 2015.
