Columbia Pipeline Floats IPO, Hopes for Upward of $1B

Last September NiSource announced they would spin off subsidiary Columbia Pipeline Group into its own company (see NiSource Splits in Two: Columbia Pipeline Will be Separate Company). It took a few months, but the two operations finally determined which executive would go with which company (see Who Gets the Kids in NiSource/Columbia Gas Divorce?). Earlier this week we finally learned the details of the initial public offering (IPO) for Columbia--how much money they plan to raise. NiSource said the IPO will float an initial 40 million "common units" (think shares of stock) with an option to add another 6 million to the pot. They hope to get between $19 and $21 per unit, meaning a total of between $760 million on the low side, to $966 million on the high side...

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