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Höegh LNG prices IPO

LNG Industry,


Höegh LNG Partners has announced the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the company at US$ 20.00 per unit.

The company has also granted the underwriters a 30-day option to purchase up to 1,440,000 additional common units.

The common units on offer represent a 36.5% limited partner interest in Höegh LNG Partners, or a 42.0% limited partner interest if the underwriters exercise in full their option to purchase additional common units. Höegh LNG Holdings Ltd. will own the company’s general partner and the remaining limited partner interest.

The common units began trading on the New York Stock Exchange on 7 August 2014 under the symbol ‘HMLP’. The offering is expected to close on or about 12 August.

Citigroup, BofA Merrill Lynch, Morgan Stanley, Barclays and UBS Investment Bank are acting as the joint book-running managers for the offering. DNB Markets, Credit Agricole CIB and RS Platou Markets AS are acting as co-managers.


Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/lng-shipping/08082014/hoegh-lng-partners-prices-ipo-1174/


 

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