Targa Resources Investments, a Warburg Pincus-owned provider of midstream natural gas services, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $275 million by offering 13.75 million shares at a price range of $19-$21. At the mid-point of the proposed range, Targa Resources will command a market value of $846 million. Targa Resources, which was founded in 2005 and booked $5.2 billion in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol TRGP. Barclays Capital, Morgan Stanley and BofA Merrill Lynch are the lead underwriters on the deal, for which timing was not disclosed.
