Exmar stalls MLP IPO
Exmar said that due to unfavorable current capital market conditions, it is delaying the launch of the contemplated initial public offering of common units in the United States of Exmar Energy Partners.
“Exmar will continue to evaluate the most appropriate timing for the initial public offering as market conditions develop,” stands in a company statement.
A registration statement has already been filed with the Securities and Exchange Commission at the end of September, but has not yet become effective.
Upon completion of the offering, the MLP is expected to own a 50% equity interest in joint ventures that own and operate four LNG regasification vessels and one LNG carrier.
LNG World News Staff; Image: Exmar