BP Unit And PE-Backed Retailer Price IPOs Raising $1.1B
Law360, New York (October 26, 2017, 6:28 PM EDT) -- BP Midstream Partners LP, a master limited partnership formed by energy giant BP, and private equity-backed eyeglasses retailer National Vision Holdings Inc. raised more than $1.1 billion combined in initial public offerings that saw shares move in opposite directions Thursday.
Houston-based BP Midstream offered 42.5 million units at $18 each, raising $765 million late Wednesday in the largest scheduled IPO this week. But the size of the deal was smaller than anticipated.
BP Midstream's offer price came in below its forecasted range of $19 to $21, which would have netted $850 million at midpoint. Plus, shares of BP Midstream dipped further...
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