Dominion Midstream Partners Launches IPO Of 17.50 Mln Units - Quick Facts

(RTTNews) - Dominion Midstream Partners LP, a Delaware limited partnership and a subsidiary of Dominion Resources Inc. (D), said that it has launched its initial public offering of 17.50 million common units representing limited partner interests.

Dominion Midstream also expects to grant the underwriters a 30-day option to purchase up to an additional 2.625 millioncommon units at the initial public offering price.

Dominion Midstream has been approved to list its common units on the New York Stock Exchange under the ticker symbol "DM," subject to official notice of issuance.

The common units being offered represent a 27.4 percent limited partner interest in Dominion Midstream, or a 31.5 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units.

Dominion, through certain of its subsidiaries, will own the remaining 72.6 percent limited partner interest in Dominion Midstream, or 68.5 percent if the underwriters exercise in full their option to purchase additional common units, as well as the general partner of Dominion Midstream, which entity is the holder of all of Dominion Midstream's incentive distribution rights.