GasLog Partners selling shares to fund new acquisitions

GasLog Partners selling shares to fund new acquisitions

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog is looking to secure funds for future acquisitions from its parent company through shares offering. 

The partnership said in a statement on Tuesday that it plans to offer series B preference units at a price of $25 per unit in a public offering.

Underwriters will be granted a 30-day option to purchase additional preference units from the partnership, the statement reads.

GasLog Partners 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.

The partnership added it currently expects that this will include future acquisitions from its parent company GasLog.

GasLog Partners’ fleet consists of twelve LNG carriers with an average carrying capacity of approximately 154,000 cubic meters.

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