Oct 15 (Reuters) - Plains GP Holdings LP, the general partner of Plains All American Pipeline LP, priced its initial 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-end of its planned $22 to $25 per share price range, which will value 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 interests in Plains AAP, which owns a 2 percent general partner stake in Plains All American Pipeline LP, a midstream company that transports, refines and sells liquid gas.
Shares of the Houston-based company, which plans to use the proceeds from the offering to make distributions to existing owners, will begin trading on the New York Stock Exchange on Wednesday under the symbol "PAGP".
The company had filed to raise up to $1 billion in its first IPO filing in July.
Barclays, Goldman Sachs and JPMorgan were the lead book-running managers among a syndicate of 34 banks underwriting the offering.