Oiltanking Partners (OILT) Announces Price of IPO, $21.50/Share
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Oiltanking Partners, L.P. (NYSE: OILT) announced today that its initial public offering of ten million common units representing limited partner interests priced at $21.50 per unit.
The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 1.5 million common units. The offering is expected to close on Tuesday, July 19, 2011.
Upon conclusion of the offering, the public will own a 25.2% limited partner interest in Oiltanking Partners, or a 29.0% limited partner interest if the underwriters exercise their over-allotment option in full.
The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 1.5 million common units. The offering is expected to close on Tuesday, July 19, 2011.
Upon conclusion of the offering, the public will own a 25.2% limited partner interest in Oiltanking Partners, or a 29.0% limited partner interest if the underwriters exercise their over-allotment option in full.
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