Hoegh LNG closes IPO

Hoegh LNG closes IPO

Höegh LNG Partners, a Marshall Islands limited partnership formed by Höegh LNG Holdings, closed its initial public offering of 11,040,000 common units representing limited partner interests in the Partnership at $20.00 per unit.

The common units issued at closing included 1,440,000 common units issued pursuant to the full exercise of the underwriters’ option to purchase additional common units. The common units began trading on the New York Stock Exchange on August 7, 2014 under the symbol “HMLP”.

The common units offered represent a 42.0% limited partner interest in the Partnership. Höegh LNG Holdings owns the Partnership’s general partner and the remaining limited partner interest.

The Partnership was formed to own, operate and acquire floating storage and regasification units, liquefied natural gas carriers and other LNG infrastructure assets under long-term charters. The Partnership’s initial fleet will consist of interests in the following vessels: a 50% interest in the GDF Suez Neptune, a 50% interest in the GDF Suez Cape Ann and a 100% economic interest in the PGN FSRU Lampung.

 

Press Release, August 13, 2014; Image: Hoegh LNG

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