EQT Midstream IPO Nets $621M, “Better than Expected”

A few weeks ago MDN brought you the news that EQT was floating yet another initial public offering (IPO), this time doing it with a newly formed subsidiary (EQT GP) with an eye to selling more ownership in its midstream division (see EQT Floats IPO to Sell Off Some Ownership of Midstream Division). We used EQT’s existing stock price as a potential yardstick to measure what they might bring in. We thought on the low end it might be $1 billion. We were off, by a lot. We thought they would look for $50 per unit (think share of stock). Instead, they were looking for $21-$24 per unit. When the units went on sale, they got $27 per unit, which was more than they expected…

Please Login to view this content. (Not a member? Join Today!)
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.