Enable Midstream plans to offer 25M units in IPO, sees price at $19-$21

Enable Midstream Partners says it plans to raise $500M by offering 25M units in its IPO, expecting shares to price at $19-$21 each.

Enable, which focuses on natural gas and oil infrastructure in the U.S., was formed last year as a limited partnership among CenterPoint Energy (CNP), OGE Energy (OGE) and ArcLight Capital.

As of Dec. 31, ENBL's energy infrastructure portfolio included ~11K miles of gathering pipelines and 12 major processing plants; total revenue for 2013 was $2.49B.

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