Hess Midstream slips as BlackRock's GIP to sell shares

Hess Midstream LP

28/05/2025 21:32

** Shares of Hess Midstream HESM.N down 2.5% post-market at $37.25 after secondary offering announced

** Houston-based subsidiary of Hess Corp HES.N says affiliate of Global Infrastructure Partners (GIP), a part of BlackRock BLK.N, to offload ~15 mln shares

** JP Morgan and Citigroup jt bookrunners for offering

** Oil & gas infrastructure services firm Hess Midstream has ~228.1 mln shares outstanding for ~$8.7 bln market cap, per LSEG data

** HESM shares on Weds closed down 0.9% at $38.19, up 3% YTD. Stock hit intraday record high of $44.05 in mid-Mar

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))