Deals

Kinder Morgan Canada Falls in Trading Debut as Foes Align

NDP-Green parties in British Columbia have opposed expansion
Kinder Morgan unit begins trading after $1.3 billion sale

1496148885_311816805 — Photographer: Andrey Rudakov/Bloomberg

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By Scott Deveau and Natalie Obiko Pearson

May 30, 2017 at 12:46 PM UTC

Updated on

May 30, 2017 at 8:30 PM UTC

This article is for subscribers only.

Kinder Morgan Canada Ltd. fell 4.5 percent in its trading debut, a day after two political parties in British Columbia that oppose the company’s pipeline expansion joined forces in a bid to topple the province’s more energy-friendly Liberal government.

Shares in the Canadian unit of Kinder Morgan Inc. fell as much as 7.4 percent Tuesday before paring losses to close at C$16.24 in Toronto. Kinder Morgan Canada raised C$1.75 billion ($1.3 billion) in one of the largest IPOs in the country after its shares were priced last week at C$17 apiece. The company has a market value of C$5.6 billion.