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