UK-based shuttle tanker operator KNOT Offshore Partners sets terms for US IPO

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KNOT Offshore Partners LP, a recently formed LP which will own, operate and acquire shuttle tankers under long-term charters, announced terms for its IPO on Monday. The Aberdeen, United Kingdom-based company plans to raise $149 million by offering 7.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, KNOT Offshore Partners LP would command a market value of $171 million.

KNOT Offshore Partners LP, which was founded in 1987 and booked $66 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol KNOP. KNOT Offshore Partners LP initially filed confidentially on 12/21/2012. BofA Merrill Lynch, Citi and Barclays 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 The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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