BP Plans IPO For U.S. Pipeline Assets - Quick Facts

(RTTNews) - BP plc (BP) announced that its wholly-owned, indirect subsidiary BP Midstream Partners LP has filed a registration statement on Form S-1 with the U.S. SEC related to its proposed $100 million initial public offering of common units representing limited partner interests.

In July, BP said it had begun evaluating the formation and IPO of a master limited partnership to enhance shareholder value and to support its strategy to grow its midstream business.

BP Midstream Partners expects this offering to occur in the fourth quarter of 2017 and expects its common units to trade on the New York Stock Exchange under the ticker symbol "BPMP."

BP Midstream Partners will be headquartered in Houston, Texas, with offices in Chicago, Illinois.