Kinder Morgan Canada on Wednesday announced a C$200 million ($157 million) stock offering to fund its Trans-Mountain pipeline expansion to west coast, and Base Line terminal project in Alberta.
The company, a unit of Houston-based Kinder Morgan Inc , said it would offer 8 million shares at C$25 each, a premium of 50.5 percent to the stock's Tuesday close. Kinder Morgan Canada had 103.04 million shares outstanding as of Dec. 5, as per Thomson Reuters data. The shares are being bought by a syndicate of underwriters led by CIBC Capital Markets, Scotiabank, RBC Capital Markets and TD Securities. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)