Antero Midstream GP LP, which owns GP interests in natural gas MLP Antero Midstream Partners, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise up to $500 million.
The Denver, CO-based company was formed in 2013 and booked $17 million in revenue for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol AMGP. Antero Midstream GP LP filed confidentially on January 23, 2017. Morgan Stanley, Barclays and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
