Upon conclusion of the offering on or about October 31, 2012, the public will own a 22.9% limited partner interest in MPLX, or a 26.4% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units.
The joint book-running managers for the offering are UBS Investment Bank, BofA Merrill Lynch, Morgan Stanley, Citigroup and J.P. Morgan are acting as joint book-running managers for the offering. Co-managers for the offering are Barclays, Deutsche Bank Securities and Wells Fargo Securities.
MPLX is headquartered in Findlay, Ohio, and its assets include of a 51% interest in a network of common carrier crude oil and products pipeline assets located in the Midwest and Gulf Coast regions of the United States, as well as a 100% interest in a butane storage cavern located in West Virginia.
Units traded as high as $26.13 in early trading today.