Kinder Morgan to raise up to $1.3 bln in Canadian IPO: Reuters

U.S. pipeline Kinder Morgan Inc's Canadian unit is seeking to raise up to $1.75 billion in an initial public offering in Toronto, Reuters reported, citing a regulatory filing. If successful, the deal would be one of Canada's top five IPOs and help fund the expansion of Kinder Morgan's Trans Mountain pipeline. Kinder Morgan expects the expansion project to cost about $7.4 billion. In the last few months, Kinder Morgan had been working on a dual-track process to explore an IPO or joint venture of its Canadian business. Kinder Morgan had held talks with major Canadian pension funds and private equity firms about raising funds for the project, Reuters previously reported.

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