The initial public offering of Noble Energy Inc.’s midstream operations in Colorado is back and hoping to raise up to $263 million.
Noble Midstream Partners LP, a wholly owned subsidiary of Noble (NYSE: NBL) on Wednesday announced it is offering 12.5 shares priced between $19 and $21 per share pursuant to a securities filing submitted to the U.S. Securities and Exchange Commission.
Parent company Noble had announced plans in October 2015 to spin off Noble Midstream Partners, then shelved those plans a few weeks later in mid-November due to “unfavorable equity market conditions.”
The sale announced Wednesday could raise up to $263 million. The company, which is based in Houston, expects to trade on the New York Stock Exchange under the ticker symbol NBLX.
(© 2016 American City Business Journals.