June 23, 2011 [Reuters] - Oiltanking Partners L.P., an oil terminal and storage services provider, filed with U.S. regulators on Thursday to raise the size of its proposed initial public offering (IPO) to $241.5 million.
In March, Oiltanking Partners had filed for an IPO of up to $200 million.
The Houston, Texas-based company said it planned to sell 10 million of its common units, but did not reveal the pricing range.
The company, whose general partner is owned by Oiltanking Holding Americas Inc, intends to use proceeds of the offering to repay debt and for working capital purposes.
Citigroup, Barclays, JPMorgan, Morgan Stanley are the lead underwriters for the offering, the company said in a filing with the U.S. Securities and Exchange Commission.
The company said the underwriters would have an option to purchase 1.5 million additional units.
Oiltanking Partners said it intends to list on the New York Stock Exchange, under the symbol “OILT”.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.
