Finance History | 11 Wall Street — Twenty-Two Dollars the Company Did Not Receive for TRGP
· 2010-12
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Finance History | 11 Wall Street — Twenty-Two Dollars the Company Did Not Receive for TRGP
kevin
People treat Targa Resources as a Houston midstream house that always printed TRGP after a finished New York book.
The first cash offering is dated, and the issuer took none of the cash.
A company release dated 6 December 2010 records that selling stockholders priced 16,375,000 common shares at 22 dollars a share in 2010 currency and that trading would begin on 7 December 2010 on the New York Stock Exchange under TRGP.
The prospectus states that the company would receive no proceeds from the sale.
A Reuters first-day report records an opening print of 24.10 dollars and a close of 24.70 dollars.
The present tape is still TRGP on the New York Stock Exchange.
The mechanism is a selling-stockholder IPO of a general-partner book over an already-listed midstream partnership.
The pin is the Broad Street facade of the Exchange, where TRGP opened.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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