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Hess Midstream LP prices upsized IPO at $23, above the range

April 5, 2017
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Hess Midstream Partners LP, an MLP formed by Hess and GIP to own gathering/processing assets in the Bakken, raised $340 million by offering 14.8 million shares at $23, above the range of $19 to $21. The company had originally planned to sell 12.5 million shares before upsizing the deal. Hess Midstream Partners LP plans to list on the NYSE under the symbol HESM. Goldman Sachs, Morgan Stanley, Citi, J.P. Morgan, MUFG and Wells Fargo Securities acted as lead managers on the deal.