Kinder Morgan Energy Partners, L.P. (KMP) Falls on Stock Offering
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Shares of Kinder Morgan Energy Partners, L.P. (NYSE: KMP) are down 3% after-hours Monday after announcing a stock offering.
The company said it is commencing an underwritten public offering of 3,900,000 common units representing limited partner interests pursuant to an effective registration statement. The Partnership intends to grant the underwriter a 30-day option to purchase a maximum of 585,000 additional common units if the underwriter sells more than 3,900,000 common units in the Offering. The Offering is subject to market and other conditions, and the Partnership may change the number of common units offered or the timing of the Offering or decide not to proceed with the Offering.
Barclays will act as the underwriter of the offering.
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The company said it is commencing an underwritten public offering of 3,900,000 common units representing limited partner interests pursuant to an effective registration statement. The Partnership intends to grant the underwriter a 30-day option to purchase a maximum of 585,000 additional common units if the underwriter sells more than 3,900,000 common units in the Offering. The Offering is subject to market and other conditions, and the Partnership may change the number of common units offered or the timing of the Offering or decide not to proceed with the Offering.
Barclays will act as the underwriter of the offering.
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