Tallgrass Energy GP LP, which holds GP and LP interests in midstream natural gas LP Tallgrass Energy, raised $1.2 billion by offering 41.5 million shares at $29, above the range of $24 to $27.
Its new deal size represents a 33% increase over prior plans to raise $900 million. The $1.2 billion IPO surpassed Columbia Pipeline Partners LP (CPPL) as the largest US IPO of 2015. The midstream pipeline operator that raised $1.1 billion in February in an offering that also priced above the range.
Tallgrass Energy GP LP 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 acted as lead managers on the deal.
