BP Midstream Partners’ IPO Plans for US Pipelines on Track
A wholly owned indirect subsidiary of oil giant BP plc BP , BP Midstream Partners LP, has commenced its plan of initial public offering (IPO) of common units, which signify limited partner interests.
In this respect, BP Midstream Partners has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”). The news followed after the announcement BP made in July, whereinit appraised the creation and IPO of a master limited partnership (MLP).
Subject to market conditions, BP Midstream Partners anticipates the offering to take place in the fourth quarter of 2017. After being listed on the NYSE, the common units are expected to trade under the ticker symbol “BPMP”…