Kinder Morgan to Raise as Much as $1.5 Billion in IPO

Kinder Morgan Inc., the Houston- based pipeline company taken private in a $22 billion leveraged buyout three years ago, plans to raise as much as $1.5 billion in an initial public offering.

Kinder Morgan will convert its parent, Kinder Morgan Holdco LLC, into a corporation from a limited liability company and rename it Kinder Morgan Inc., the company said in a statement. Kinder Morgan Holdco’s unitholders will become stockholders in the new Kinder Morgan Inc.