Kinder Morgan looking to raise $1.75 billion in Trans Mountain pipeline IPO + MORE May 10th

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Green Party Leader Andrew Weaver gets out of a vehicle to stop to talk to reporters outside a campaign stop by NDP Leader John Horgan in Nanaimo, B.C., on Friday May 5, 2017. A provincial election will be held on Tuesday. (Darryl Dyck/CP)
The emergence of the B.C. Green Party as establishment power broker was a twist few expected when British Columbians went to the polls this week. Christie Clark’s Liberals winning 43 seats, the NDP 41 seats and Greens three (with recounts pending), thrust B.C. Green Party leader Andrew Weaver into the unexpected role of, if not kingmaker, then key court negotiator. The election saw the Greens bud if not bloom: the party tripled their seats and double popular vote to an estimated 16 percent. Weaver, a former climate scientist, proclaimed the victory “the first ever Green-elected caucus in North America.”
As to how the Green’s newfound leverage will be wielded, Weaver’s not tipping his cap. He told reporters it’s too soon to make any decisions about forming coalitions or informal working agreements with other parties, and that he is less interested in political gain than moving Green policies forward…

British Columbia’s election has brought unwelcome doubt for the business sector, given the prospect of an ascendant Green party influencing policy on pipelines, natural gas exports, hydroelectricity and other resource projects.
Christy Clark’s Liberal party took 43 seats, two ahead of the NDP, but just shy of the 44 seats needed to take a majority. Recounts and absentee ballots could still sway the final tally, such as with the Courtenay-Comox riding swinging to the NDP by a mere nine votes.
As it stands, the anti-pipeline, anti-fracking, anti-liquefied natural gas Greens hold the balance of power with their three seats, though party leader Andrew Weaver has said he is open to compromise and his top priority is to remove big money from politics.
The results only create more unpredictability for the Trans Mountain pipeline expansion, shale gas development and the Site C hydro dam that is already under construction, said Martin Pelletier, managing director at TriVest Wealth Council…

Transportation giant has become the most shorted company on the TSX

Kinder Morgan Canada is looking to raise $1.75 billion through an initial public offering of assets including the Trans Mountain pipeline system.
In an updated prospectus filed Wednesday, the company said it’s looking to sell shares at between $19 and $22 to help fund the $7.4 billion Trans Mountain Expansion Project, rather than using a joint venture to fund it.
The Kinder Morgan Canada Ltd. Partnership would hold both the Trans Mountain pipeline and the expansion project, the Puget Sound pipeline system in Washington State, a condensate pipeline, along with storage and terminals along the pipeline routes.
Houston-based Kinder Morgan would still hold a majority share, with as much as a 77 per cent interest in the entity.
The U.S. company said it’s confident in interest from the investment community for the deal. The regulatory filing said Kinder Morgan Canada aims to close the IPO the week of May 29.
The filing comes a day after the B.C. election in which the Liberal party, which supports the pipeline, won 43 seats, one short of a majority…