Phillips 66 Partners, the master limited partnership slated to debut on the New York Stock Exchange Tuesday, is expected to price near or at the top of the range of its initial public offering, as noted in MarketWatch.
The company’s IPO “is multiple times oversubscribed,” IPO Boutique said. The books closed on Friday and the stock is seen trading in the $19 to $21 range. The company is selling 15 million shares.
One of the country’s largest master limited partnerships in 2013
Phillips 66 Partners was formed with pipeline and other logistics and transportation assets of refiner Phillips 66 (NYSE:PSX) itself spun...
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