Kinder Morgan is seeking to raise a total of about $2.3 billion in an initial public offering (IPO), Financial Times reports. The U.S. pipeline operator will sell 80 million shares for as much as $29 per share. The company will not receive any of the proceeds.

The shares being sold are owned by private equity funds controlled by Goldman Sachs, the Carlyle Group, Riverstone Holdings and Highstar Capital. The lead underwriters for the sale are Barclays Capital and Goldman.

Click here for the story from Financial Times.

Click here for additional coverage from The Wall Street Journal.