GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, is set to rake in $95.9 million through a share sale intended to fund further acquisitions among other things.
The partnership said it will put up 4,000,000 shares for sale at a price of $25 per unit.
The underwriters have a 30-day option to purchase up to 600,000 additional units, while the offering is expected to close on November 15.
The partnership plans to use the net proceeds from the public offering for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital.
“We currently expect that this will include future acquisitions from GasLog,” the company said in a statement.