LNG shipping company Dynagas LNG Partners LP sets terms for $250 million IPO

By Renaissance Capital,

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Dynagas LNG Partners LP, a limited partnership focused on owning and operating LNG carriers, announced terms for its IPO on Tuesday. The Glyfada, Greece-based company plans to raise $250 million by offering 12.5 million shares (34% insider) at a price range of $19 to $21. At the midpoint of the proposed range, Dynagas LNG Partners LP would command a market value of $600 million.

Dynagas LNG Partners, which was founded in 2004 and booked $83 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol DLNG. Dynagas initially filed confidentially on July 10, 2013. Credit Suisse, BofA Merrill Lynch, Morgan Stanley, Barclays and Deutsche Bank are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: DLNG

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