Black Stone Minerals LP, an MLP with royalty and working interests in oil and gas production assets across the US, announced terms for its IPO on Wednesday. The Houston, TX-based company plans to raise $450 million by offering 22.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Black Stone Minerals LP would command a fully diluted market value of $4 billion.
Black Stone Minerals, which was founded in 1998 and booked $548 million in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol BSM. Barclays, BofA Merrill Lynch, Citi, Credit Suisse and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of April 27, 2015.
