Oiltanking Partners (OILT) Completes 11.5 Million Share Offering
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Oiltanking Partners, L.P. (NYSE: OILT) has completed its initial public offering of 11.5 million common units representing limited partner interests at a price of $21.50 per unit. The number of units issued at closing included 1.5 million additional common units issued pursuant to full exercise of the underwriters' over-allotment option.
Net proceeds received by Oiltanking Partners from the sale of 11.5 million common units totaled approximately $231.2 million, after deducting the underwriting discount and structuring fee, but before taking into account estimated offering expenses. The public owns a 29.0% limited partner interest in Oiltanking Partners following the completion of the offering.
Net proceeds received by Oiltanking Partners from the sale of 11.5 million common units totaled approximately $231.2 million, after deducting the underwriting discount and structuring fee, but before taking into account estimated offering expenses. The public owns a 29.0% limited partner interest in Oiltanking Partners following the completion of the offering.
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