Second time's the charm for Noble Midstream IPO

DENVER BUSINESS JOURNAL - The initial public offering of Noble Energy Inc.’s midstream operations in Colorado raised $281 million Wednesday, more than expected based on higher prices for the shares.

Noble Midstream Partners LP, a wholly owned subsidiary of Noble (NYSE: NBL) said last week it would offer 12.5 shares priced between $19 and $21 per share pursuant to a securities filing submitted to the U.S. Securities and Exchange Commission.

Wednesday, the company announced it raised $281 million on the sale of 12.5 million shares priced at $22.50 — higher than it expected last week.

Parent company Noble 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.”

Read more at the Denver Business Journal: http://bizj.us/1o8ym8

(© 2016 American City Business Journals. All rights reserved.)


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