(Source: Hess Midstream)
Hess Midstream (HESM) said 10 million Class A shares representing limited partner interests in the company will be made available in a public offering, according to a Feb. 5 news release.
Global Infrastructure Partners, an HESM affiliate, will act as the selling shareholder. The plan is for a 30-day option for up to 1.5 million additional Class A shares. Hess Midstream will not receive proceeds from the sale of Class A shares in the offering.
Hess Midstream said Citigroup is serving as bookrunning manager of the offering. The agency underwriting the sale intends to sell Class A shares occasionally in one or more transactions on the New York Stock Exchange. The sale will be through over-the-counter market transactions at market or negotiated prices.
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