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Rockpoint Gas Storage

Rockpoint Gas Storage Inc. (Ticker: RGSI CN) is a Canada-domiciled company specializing in natural gas storage. Rockpoint plans to list on the Toronto Stock Exchange on 10/8, offering 32 million shares at C$22, raising C$704 million (US$504.5 million). The company is Brookfield-controlled through its infrastructure funds. Post-listing Brookfield is expected to hold about 83.5% of the voting power. Rockpoint is the largest independent pure-play natural gas storage operator in North America, with about 279.2 billion cubic feet of capacity across six facilities in California and Alberta. Underwriters are Royal Bank of Canada and JPMorgan Chase & Co. At the IPO price, Rockpoint would have a market value of C$2.9 billion (US$2.1 billion).

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