ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BP. Bp Plc

496.45
3.65 (0.74%)
Last Updated: 13:08:42
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bp Plc LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.65 0.74% 496.45 496.45 496.50 497.85 493.30 495.45 6,775,629 13:08:42
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining 211.6B 15.24B 0.8934 5.56 84.68B

BP PLC BP Midstream Partners LP Launches IPO (7461T)

16/10/2017 6:21pm

UK Regulatory


Bp (LSE:BP.)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Bp Charts.

TIDMBP.

RNS Number : 7461T

BP PLC

16 October 2017

BP Midstream Partners LP Launches Initial Public Offering

Houston, Texas, 16 October 2017 - BP Midstream Partners LP ("BP Midstream Partners" or the "Partnership"), a limited partnership formed by an indirect, wholly-owned subsidiary of BP p.l.c., announced today that it has commenced the initial public offering of 42,500,000 common units representing limited partner interests at an anticipated price of between $19.00 and $21.00 per common unit. The common units have been authorized for listing on the New York Stock Exchange under the ticker symbol "BPMP," subject to official notice of issuance. The underwriters of the offering will have a 30-day option to purchase up to an additional 6,375,000 common units from BP Midstream Partners.

The common units being offered represent an approximate 40.6 percent limited partner interest in BP Midstream Partners, or an approximate 46.7 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units. BP p.l.c., through its indirect subsidiaries, will own the remaining limited partner interest in BP Midstream Partners, as well as its general partner and incentive distribution rights.

Citigroup is acting as sole structuring agent and joint book-running manager for the offering. Goldman Sachs, Morgan Stanley, Barclays, Credit Suisse, J.P. Morgan and UBS Investment Bank are also acting as joint book-running managers. The offering is being made only by means of a prospectus. Once it becomes available, potential investors can obtain a prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from:

 
 Citigroup                            Goldman Sachs &                         Morgan Stanley 
  c/o Broadridge Financial             Co. LLC                                 c/o Prospectus 
  Solutions                            Attention: Prospectus                   Department 
  1155 Long Island                     Department                              180 Varick Street, 
  Avenue                               200 West Street                         Second Floor 
  Edgewood, New York                   New York, NY 10282                      New York, New York 
  11717                                Telephone: 1-866-471-2526               10014 
  Phone: 1-800- 831-9146               Email: prospectus-ny@ny.email.gs.com 
 Barclays Capital                     Credit Suisse                           J.P. Morgan 
  Inc.                                 Attention: Prospectus                   c/o Broadridge 
  c/o Broadridge                       Department                              Financial Solutions 
  Financial Solutions                  One Madison Avenue,                     1155 Long Island 
  1155 Long Island                     Level 1B                                Avenue 
  Avenue                               New York, New York                      Edgewood, New 
  Edgewood, New York                   10010                                   York 11717 
  11717                                                                        Toll-Free: (866) 
  barclaysprospectus@broadridge.com    newyork.prospectus@credit-suisse.com    803-9204 
  Toll-Free: (888)                     Toll-Free: (800)                        prospectus-eq_fi@jpmchase.com 
  603-5847                             221-1037 
 UBS Securities LLC 
  1285 Avenue of the 
  Americas 
  New York, NY 10019 
  Attn: Prospectus 
  Dept. 
  Phone: (888) 827-7275 
 

When available, to obtain a copy of the prospectus free of charge, visit the SEC's website, www.sec.gov, and search under the registrant's name, "BP Midstream Partners."

A registration statement relating to the common units has been filed with the Securities and Exchange Commission but has not yet become effective. The common units may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

BP Midstream Partners is a fee-based, growth-oriented master limited partnership recently formed by BP to own, operate, develop and acquire pipelines and other midstream assets. BP Midstream Partners' initial assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and its affiliates and other customers to transport onshore and offshore production to key refining markets and trading and distribution hubs.

- # # # -

Further Information

BP Press Office, US: +1 281-366-4463 uspress@bp.com

BP Press Office, London: +44 (0)207 496 4076, bppress@bp.com

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant, our common units may not begin trading on the New York Stock Exchange as expected and the offering may not close as expected. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the prospectus included in the registration statement on Form S-1, in the form last filed with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFFIFWMFWSEFS

(END) Dow Jones Newswires

October 16, 2017 13:21 ET (17:21 GMT)

1 Year Bp Chart

1 Year Bp Chart

1 Month Bp Chart

1 Month Bp Chart

Your Recent History

Delayed Upgrade Clock