GasLog Partners bags $96.3m from share sale

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, raked in $96.3 million after closing the previously announced share sale.

The partnership put up 4,000,000 shares for sale at a price of $25 per unit.

GasLog Partners said in a statement on Thursday it plans to use the net proceeds from the 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 our parent GasLog,” the partnership said.

GasLog Partners’ fleet currently consists of 14 LNG carriers with an average carrying capacity of about 157,000 cbm.