HESM News

This week saw a diverse group of four IPOs price to generally positive reactions, three had double-digit returns. Okta (OKTA) was the latest high-growth, high-loss software company to go public this year and like the others it had a stellar performance, closed Friday up 39% after pricing at the high-end of the range (software IPOs have averaged 42% first day...read more

Hess Midstream Partners LP, an MLP formed by Hess and GIP to own gathering/processing assets in the Bakken, raised $340 million by offering 14.8 million shares at $23, above the range of $19 to $21. The company had originally planned to sell 12.5 million shares before upsizing the deal. Hess Midstream Partners LP plans to list on the NYSE under the symbol HESM. Goldman Sachs,...read more

Five IPOs are set to raise a combined $1.5 billion in the next week. Each company in this diverse group is targeting raising over $100 million. Two transportation companies are marketing the largest deals: Brazilian airline Azul is set to raise $478 million as the first airline with a US IPO since 2014 and family-owned US trucker Schneider is...read more

Hess Midstream Partners LP, an MLP formed by Hess and GIP to own pipeline and storage assets in the Bakken Shale, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $250 million by offering 12.5 million units at a price range of $19 to $21. At the midpoint of the proposed range, Hess Midstream Partners LP would command a market value of $1.1...read more