Shell Midstream Gains in Best Energy Trading Debut This Year
This article is for subscribers only.
Shell Midstream Partners LP, the pipeline partnership backed by Europe’s biggest oil company, surged 46 percent in the best U.S. trading debut performance by an energy company this year.
The units climbed $10.55 to $33.55 at the close in New York, after being priced at $23 each. Shell Midstream raised $920 million by selling 40 million units, according to a statement yesterday, after offering 37.5 million for $19 to $21 apiece.