Antero Midstream GP LP, which owns GP interests in natural gas MLP Antero Midstream Partners, announced terms for its IPO on Monday.
The Denver, CO-based company plans to raise $875 million by offering 37.25 million shares (100% insider) at a price range of $22 to $25. At the midpoint of the proposed range, Antero Midstream GP LP would command a market value of $4.4 billion.
Antero Midstream GP LP was founded 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. Morgan Stanley, Barclays, J.P. Morgan, Baird, Citi, Goldman Sachs and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of May 1, 2017.
