July 8, 2011 [Oiltanking] - Oiltanking Partners, L.P. (“Oiltanking Partners”), a subsidiary of Oiltanking Holding Americas Inc., announced this week that it intends to commence an initial public offering of 10,000,000 common units The common units will be listed on the New York Stock Exchange and traded under the symbol “OILT”.
Oiltanking Partners is a recently formed Master Limited Partnership holding the shares in Oiltanking Houston and Oiltanking Beaumont. Oiltanking Houston and Oiltanking Beaumont engage in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. The terminals are located along the upper Gulf Coast of the United States in Houston / Texas and Beaumont / Texas.
The common units being offered to the public would represent a 26% limited partner interest in Oiltanking Partners, or a 29.0% limited partner interest if the underwriters exercised their over-allotment option in full.
Citi, Barclays Capital, J.P. Morgan and Morgan Stanley act as joint book-running managers for the offering. Raymond James, Deutsche Bank Securities and Stifel Nicolaus Weisel act as co-managers for the offering.
