MLPA Congratulates Noble Midstream for a Successful IPO

Press Releases | September 22, 2016
  • MLPA Congratulates Noble Midstream for a Successful IPO

     

    Washington, D.C. – September 22, 2016 – The Master Limited Partnership Association, the nation’s trade association representing the MLP industry, applauds the recent initial public offering of Noble Midstream Partners (NYSE:NBLX).

    “The success of the Noble Midstream IPO is an indication of an improved market for MLPs,” said MLPA Executive Director Mary Lyman. “Investors have demonstrated they are ready to provide capital to new MLPs. Our association is very pleased by the success of this IPO, and we expect that it will soon be followed by others.”

    Noble Midstream Partners originally priced its 12.5 million units between $19 and $21; the final price landed at $22.50, raising more than $280 million. On the first day of trading, Thursday, September 15, the unit price climbed 16 percent – from $22.50 to a closing price of $26.20.

    This marked the first IPO for an MLP since July 2015. Following the IPO, MLPA announced it has just welcomed Noble Midstream Partners as its newest association member.

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    About MLPA:
    The Master Limited Partnership Association (MLPA) is the nation’s only trade association representing the publicly traded partnerships commonly known as master limited partnerships (MLPs). The MLPA is an outgrowth of an informal lobbying organization formed in 1983. For more than three decades, the association has been highly successful in promoting the interests of MLPs in Washington, D.C. and the states. For more information, visit – MLPAssociation.org.

     

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