Brookfield’s Rockpoint Gas Seeks $347 Million in Toronto IPO

Rockpoint Gas Storage Inc., Brookfield Asset Management’s North American natural gas storage platform, is seeking to raise as much as C$484 million ($347 million) in its initial public offering.

The Calgary, Alberta-based company plans to market 22 million shares for C$19 to C$22 each in its IPO, according to a statement Friday.

At the top of that range, Rockpoint would have a market value of about C$2.9 billion based on the outstanding shares listed in its preliminary prospectus. Brookfield is expected to have about 83.5% of the voting power in Rockpoint after the listing.

Rockpoint’s public listing is driving ...