Dominion Midstream Partners files for IPO of about $400 million-Reuters


(Reuters) – Dominion Midstream Partners LP, a unit of energy company Dominion Resources Inc, filed with U.S. regulators on Friday to raise about $400 million in an initial public offering of common units.

The company owns all outstanding preferred equity interests in Dominion Cove Point LNG LP, which owns and operates a liquefied natural gas facility in Chesapeake Bay in Lusby, Maryland.

Richmond, Virginia-based Dominion Midstream told the U.S Securities and Exchange Commission in a preliminary prospectus that Barclays and Citigroup were underwriting the IPO.

The filing did not reveal how many shares the company planned to sell or their expected price.

The company, formed in March, intends to list its common stock on the New York Stock Exchange under the symbol “DM.”

Net proceeds from the offering would be used to fund a portion of development and construction costs related to the liquefaction project, the company said in the filing.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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