04:53 PM EDT, 10/06/2025 (MT Newswires) -- Rockpoint Gas Storage (RGSI.TO) on Monday increased the size of its planned initial public offering, expecting to issue 32-million Class A shares from treasury, up from its original 22-million target, while keeping its expected price per share between $19.00 and $22.00 per share.

The company said with the additional shares it expects gross proceeds of between $608 million to $704 million, up from its prior range of $418 million and $484 million. Some selling shareholders also granted underwriters an over-allotment option for up to 4.8 million additional shares, but Rockpoint will receive no funds from its exercise.

Following the completion of the upsized IPO, affiliates of Brookfield Asset Management Private Institutional Capital Adviser (Canada) are expected to hold approximately 39.8% of the outstanding Class A shares, or 30.8% if the overallotment option is fully exercised. They will also continue to own all Class B shares, which will give them roughly 75.9% of the total voting power, or 72.3% if the option is exercised.

Proceeds from the offering, along with the issuance of 21.2 million Class A shares to Brookfield affiliates, will be used to acquire a 40% interest in Rockpoint's natural gas storage business.

The Toronto Stock Exchange has conditionally approved the listing of the Class A shares under the symbol "RGSI," subject to customary requirements. The company did not say when it expects to complete the IPO.