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Antero Resources Midstream files for IPO of up to $500 mln

Friday, 7 Feb 2014 | 6:52 AM ET

Feb 7 (Reuters) - Antero Resources Midstream LLC filed with U.S. regulators to raise up to $500 million in an initial public offering of its common stock.

Antero Resources Midstream, formed by Antero Resources Corp , owns, operates and develops midstream energy assets including pipelines, compressor stations and fresh water distribution systems.

Warburg Pincus-controlled Antero Resources Corp rose 25 percent in its market debut in October.

Barclays, Citigroup and Wells Fargo Securities were underwriting the IPO, Antero Resources Midstream told the U.S Securities and Exchange Commission in a preliminary prospectus on Friday. ()

Antero Resources Midstream would be converted to Antero Midstream Partners LP, according to the filing.

The company intends to list its common stock on the New York Stock Exchange under the symbol "AM."

The company said net proceeds from the offering would be used to repay debt.

Antero Resources Midstream reported a net income of $16.9 million for the nine months ended September 2013, compared with a net loss of $3.4 million a year earlier.

Revenue rose to $35.3 million from $237,000.

The filing did not reveal how many shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.