Royal Dutch Shell reports that its wholly owned subsidiary, Shell Midstream Partners LP, has filed a registration statement on Form S-1 with the US Securities and Exchange Commission related to the proposed initial public offering of common units representing limited partner interests.
Shell Midstream Partners intends to apply to list the common units on the New York Stock Exchange under the ticker symbol "SHLX." The offering is expected to occur in the second half of this year.
Shell Midstream Partners was formed as a vehicle to own, operate, develop, and acquire pipelines and other midstream assets. Headquartered in Houston, its initial assets are expected to consist of ownership interests in four onshore and offshore pipelines located primarily in Texas and Louisiana.
Barclays and Citigroup are acting as book-running managers and structuring agents for the proposed offering.