EXMAR NV has filed for a registration statement with the United States Securities and Exchange Commission (SEC) to raise up to USD 125 million in an initial public offering of shares in the master limited partnership (MLP).
The number of common units to be offered and the price range for the offering that will be traded under the ticker ”XMLP” have not yet been determined.
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 (LNGRV) and one LNG carrier. All five vessels are under charter with Excelerate Energy and charter expiration dates range from 2022 to 2034.
Completion of the initial public offering is subject to completion of the SEC review process.
J.P. Morgan, BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the proposed offering.