BUZZ-Hess Midstream down as BlackRock's GIP to slice stake
Reuters
Feb 11
BUZZ-Hess Midstream down as BlackRock's GIP to slice stake
** Shares of Hess Midstream HESM.N down 2.1% at $39.98 in extended trading on news of secondary offering
** Houston-based subsidiary of Hess Corp HES.Ncommences 10 mln share offering by affiliate of Global Infrastructure Partners (GIP)
** Offering to cut BlackRock-owned GIP's stake from 14.3% to 9.6%, or ~20.8 mln shares, per the SEC filing
** Goldman Sachs sole bookrunner
** HESM shares on Mon finished up 0.9% at $40.85. Stock up 10% YTD and up about 27% over the past 12 months
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.