Niska Gas Storage Partners LLC, which owns and operates natural gas storage assets in North America, announced terms for its IPO on Thursday. The Houston, TX-based company plans to raise $350 million by offering 17.5 million shares at a price range of $19-$21. At the mid-point of the proposed range, Niska Gas Storage will command a market value of $1.4 billion. The company, which was founded in 2006 and booked $181 million in sales last year, plans to list on the NYSE under the symbol NKA. Niska Gas Storage is the second natural gas operator to file terms this month, after PAA Natural Gas Storage (PNG). Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal, for which timing was not disclosed.
