Sign Up for FREE Daily Energy News
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • instagram
  • youtube2
WEC - Western Engineered Containment
Copper Tip Energy Services
Hazloc Heaters
WEC - Western Engineered Containment
Hazloc Heaters
Copper Tip Energy

Kinder Morgan looking to raise $1.75 billion in Trans Mountain pipeline IPO

CALGARY — Kinder Morgan Canada is looking to raise $1.75 billion through an initial public offering of assets including the Trans Mountain pipeline system.

In an updated prospectus filed Wednesday, the company said it's looking to sell shares at between $19 and $22 to help fund the $7.4 billion Trans Mountain Expansion Project, rather than using a joint venture to fund it.

The Kinder Morgan Canada Ltd. Partnership would hold both the Trans Mountain pipeline and the expansion project, the Puget Sound pipeline system in Washington State, a condensate pipeline, along with storage and terminals along the pipeline routes.

Houston-based Kinder Morgan would still hold a majority share, with as much as a 77 per cent interest in the entity.

The U.S. company said it's confident in interest from the investment community for the deal. The regulatory filing said Kinder Morgan Canada aims to close the IPO the week of May 29.

The filing comes a day after the B.C. election in which the Liberal party, which supports the pipeline, won 43 seats, one short of a majority. The NDP and Green parties, which oppose the pipeline, hold 41 and three seats respectively.

The final tally of the election could yet change, with several recounts planned and absentee ballots still to be counted.  

The Canadian Press

Share This:

More News Articles

New SHOWCASE Directory Companies


Axis Communciations
The Coverall Shop
Muddy Boots
Delta Remediation Inc.
Payload Technologies Inc.
Smart-Project Management Inc. / Trusted Pipeline Advisor
Vista Projects Limited