$800 to $900 million will be raised
BP Midstream Partners (ticker: BPMP) has launched its IPO today, marking another step in the process of spinning off the company’s pipeline assets.

BP will offer 42,500,000 common units at an anticipated price of between $19 and $21 per unit. This equates to a total of between $800 and $900 million, making it among the largest IPOs by the industry this year. The underwriters of the offering have a 30-day option to purchase up to 6,375,000 more units. BP Midstream Partners will trade on the NYSE under the ...

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