Rockpoint Gas Storage Files for 2025 TSX Initial Public Offering

Rockpoint Gas Storage Inc., a North American independent natural gas storage operator backed by Brookfield Asset Management, has filed a preliminary base PREP prospectus for an initial public offering (IPO) of its Class A common shares in Canada, with RBC Capital Markets and JPMorgan acting as joint lead bookrunning managers. The company operates six gas storage facilities across Alberta and California with a combined capacity of approximately 280 billion cubic feet, and also owns subsidiaries providing natural gas supply and agency services across Canada. The IPO details, including the number of shares and offering price, have not yet been determined, and the shares are planned to be listed on the Toronto Stock Exchange under the symbol "RGSI". This potential IPO would be the second on the TSX in 2025 following GO Residential REIT's offering and is under active consideration with ongoing deliberations and possible addition of more banks to the underwriting syndicate. Rockpoint Gas Storage is owned by Brookfield Infrastructure Fund II and Brookfield Americas Infrastructure Fund, both managed by Brookfield Asset Management based in New York City. Regulatory authorities have not approved or disapproved the offering, and the prospectus is subject to amendment and completion.