EQT Midstream Partners, LP, an EQT Corp. (EQT: Quote) company, said Monday that it has commenced an initial public offering of 12.5 million common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission.
The underwriters will be granted a 30-day option to purchase up to an additional 1.875 million common units.
The common units of the Partnership will be listed and traded on the New York Stock Exchange, under the symbol "EQM."
EQT Midstream Partners, LP is a master limited partnership formed by EQT Corporation to own, operate, acquire and develop midstream assets in the Appalachian basin.
The common units being offered to the public represent a 35.3% limited partner interest in the Partnership, or 40.6% limited partner interest if the underwriters exercise their over-allotment option in full. EQT Corp. will hold a 2% general partner interest and a 62.7% limited partner interest in the Partnership, or 57.4% if the underwriters exercise their over-allotment option in full.
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by RTT Staff Writer
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