Oct 15 (Reuters) - Plains GP Holdings LP, the generalpartner of Plains All American Pipeline LP, priced itsinitial public offering at $22 per share to raise $2.82 billion,making it the largest U.S. IPO this year.
Plains GP priced 128 million Class A shares at the low-endof its planned $22 to $25 per share price range, which willvalue the company at about $13.33 billion.
The offering is the largest IPO on the U.S. markets in 2013,topping Pfizer Inc's animal health unit Zoetis Inc's $2.24 billion offering in February.
The newly formed company will own limited partner interestsin Plains AAP, which owns a 2 percent general partner stake inPlains All American Pipeline LP, a midstream company thattransports, refines and sells liquid gas.
Shares of the Houston-based company, which plans to use theproceeds from the offering to make distributions to existingowners, will begin trading on the New York Stock Exchange onWednesday under the symbol "PAGP".
The company had filed to raise up to $1 billion in its firstIPO filing in July.
Barclays, Goldman Sachs and JPMorgan were the leadbook-running managers among a syndicate of 34 banks underwritingthe offering.