GasLog Partners off to successful trading debut

|About: GasLog (GLOG)|By:, SA News Editor

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.