Kinder Morgan Goes Higher and Bigger

Kinder Morgan has priced its IPO at $30 per share, above its expected $26 to $29 price range. In addition to pricing high, the company also increased the size of its offering from 80 million shares of common stock to about 95.47 million, putting the total offering valuation at over $2.86 billion. All of the shares are being sold by certain shareholders, including Goldman Sachs, Highstar Capital, The Carlyle Group and Riverstone Holdings. Kinder Morgan provides pipeline transportation and energy storage services. The company's stock is debuting today on the NYSE under the symbol KMI.