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Image courtesy of Royal Dutch Shell.

Shell Midstream Partners, a limited partnership formed by Royal Dutch Shell, launched its initial public offering Monday of 37,500,000 common units, representing limited partner interests.

The common units are expected to be listed on the New York Stock Exchange under the ticker symbol “SHLX.”

The underwriters of the offering will have a 30-day option to purchase up to an additional 5,625,000 common units from Shell Midstream Partners.

The common units being offered represent a 27.2 percent limited partner interest in Shell Midstream Partners, or a 31.3 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units.

Royal Dutch Shell, through subsidiaries, will own the remaining limited partner interest in Shell Midstream Partners along with its 2 percent general partner interest.

Barclays, Citigroup, Morgan Stanley and UBS Investment Bank are acting as book-running managers for the offering.

Credit Suisse, Goldman Sachs, JP Morgan, Wells Fargo, RBC Capital Markets and Credit Agricole are acting as co-managers.