BP has filed registration statement for an Initial Public Offering (IPO) of its US pipeline assets through its wholly-owned subsidiary BP Midstream Partners LP. If the request is approved, BP Midstream Partners expects the IPO to occur in the fourth quarter of 2017, depending on how market conditions will be evolving. The company anticipates that the common units will be traded on the New York Stock Exchange (NYSE) under the ticker symbol “BPMP.”
BP Midstream Partners LP is subordinated to BP Midstream Partners Holdings LLC, itself a subsidiary of BP Pipelines North America Inc. BP Midstream partners is a midstream business company which owns and operates terminal facilities and pipelines in several American states such as Illinois, Indiana, Michigan and Louisiana along with offshore operations on the Gulf of Mexico (GoM).
Source: US Securities and Exchange Commission