July 20, 2011 [PRNewswire] - Oiltanking Partners, L.P. a Delaware limited partnership, announced yesterday that it 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.
Citi, Barclays Capital, J.P. Morgan and Morgan Stanley acted as joint book-running managers for the offering. Raymond James, Deutsche Bank Securities and Stifel Nicolaus Weisel acted as co-managers for the offering.
