Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, October 28, 2014

Shell Midstream Partners prices IPO at $23/unit, (NYSE: RDS-B)

Shell Midstream Partners LP IPO-SHLX.N, a master limited partnership formed by Royal Dutch Shell Plc , priced its initial public offering of 40 million common units at $23 per unit, above its expected price range of $19-$21 per unit. The company's IPO raised about $920 million, valuing the company at up to $1.56 billion. (Reporting By Neha Dimri in Bangalore; Editing by Maju Samuel)

Shares of RDS-B traded higher by 0.97% or $0.72/share to $74.58. In the past year, the shares have traded as low as $67.57 and as high as $88.13. On average, 747837 shares of RDS-B exchange hands on a given day and today's volume is recorded at 807844.