Seeking Alpha

GasLog Partners off to successful trading debut

  • After a rough stretch for IPOs, GasLog Partners priced its IPO at $21, the high end of its $19-$21 marketed range; GLOP continues to gain ground as its first day of trading winds down, advancing ~25% to $26.30.
  • An MLP offering regular income in the form of dividend-like distributions, GasLog Partners, which owns ships carrying liquefied natural gas, seems perfectly timed as investors have been veering away from high-growth sectors.
  • GasLog Ltd. (GLOG -2.4%) will retain ~1.42M common units if the underwriters option to purchase additional common units is not exercised, or will retain ~162K common units if the option is exercised in full.
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