Alberta Regulator to Review Challenge to Kinder Morgan IPO

Outdated oil projections could mislead investors: Greenpeace
Pipeline company seeks to raise $1.28 billion in stock sale

A ship receives its load of oil from the Kinder Morgan Trans Mountain Expansion Project's Westeridge loading dock in Burnaby, British Columbia, Thursday, June 4, 2015.
Photographer: Jonathan Hayward/The Canadian Press via AP

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Meenal Vamburkar

May 18, 2017 at 5:47 PM UTC

This article is for subscribers only.

The Alberta Securities Commission is reviewing an environmental group’s request to halt a $1.28 billion share sale that Kinder Morgan Inc. plans to help finance the expansion of its Trans Mountain pipeline.

Earlier this month, Greenpeace Canada sent a letter to the Alberta commission, along with the Ontario Securities Commission and Canadian Securities Association, saying Kinder Morgan may have used outdated oil projections in its IPO prospectus. The Alberta commission acknowledged receiving the challenge and will give it "the consideration we deem appropriate," according to an emailed statement from spokeswoman Alison Trollope.