Kinder Morgan announces final investment decision on Trans Mountain pipeline
VANCOUVER — Kinder Morgan says it will proceed with the $7.4-billion Trans Mountain pipeline expansion as long as it secures satisfactory financing for the project through its initial public offering.
The Texas-based company, in conjunction with its indirect subsidiary Kinder Morgan Canada, announced Thursday its final investment decision on the project, which is conditional on the successful completion of the IPO.
The company has offered 102.9 million shares at a price of $17 per share in an effort to raise $1.75 billion. The public offering is set to close May 31.
The IPO would be one of the biggest ever on the Toronto Stock Exchange.