The company, which holds general partner interest in oil and gas pipeline operator Plains All American Pipeline, priced its shares at $22, giving it a market cap of $13.33bn.
Plains GP previously said it would price its shares in the $22 to $25 per share range.
The company will use the proceeds for distributions to its existing owners including Occidental Petroleum and alternative investment firms Energy & Minerals Group and Kayne Anderson.
Earlier this year Energy & Minerals joined forces with specialist private equity firm The Energy & Minerals Group to launch a natural gas joint venture.
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