BUZZ-Shell Midstream slides on near $1 bln stock deal

** Shell Midstream Partners LP down >6 pct premarket as the MLP (IOB: 0NDP.IL - news) taps the equity market

** SHLX among biggest NYSE losers premarket

** Co sells 25 mln units in public offering, and sells $300 mln worth of units privately to its parent, Royal Dutch Shell (LSE: 0LN9.L - news)

** Concurrent offerings priced at $27.20, a 6.9 pct discount to SHLX's adjusted close

** SHLX trades x-div on Fri as MLP pays Q4 distribution of 33.3 cents/unit

** Investors participating in equity offering not eligible to receive the distribution, which is being paid to holders of record Feb 5 -- stock sale settles Feb 6

** Shell Midstream has fallen 11 pct over past 12 mths compared to 13-pct decline for Alps Alerian MLP ETF