Dynagas LNG Partners unchanged in trading debut

AP News
Posted: Nov 13, 2013 6:53 PM

Shares of Dynagas LNG Partners LP, whose ships transport natural gas, ended unchanged in its stock market debut Wednesday.

Dynagas, which is based in Greece, and its backers raised $225 million in an initial public offering. In the IPO, 12.5 million shares priced at $18 each.

They trade on the Nasdaq stock exchange under the ticker symbol "DLNG."

Dynagas said it will use the money it raised to pay debt and potentially to buy more ships.

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Dynagas closed at $18 Wednesday. Shares ranged from $16.75 to $18.10 throughout the day.