Shares of Golar LNG (NYSE GLNG) rallied today ahead of a Friday IPO date in which it will spin off a portion of its operations into a limited partnership.
Golar LNG, an owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units, plans spin off four of it's ships into Golar LNG Partners LP via a $252 million IPO. The IPO is expected to trade under the symbol GMLP and be priced near $21 a share. Golar LNG has set the Golar LNG Partners LP IPO to commence trading on April 8, 2011.
Shares of Golar LNG have more than doubled in the past six months and GLNG stock price hit a record high closing quote today at $28.53 a share, gaining $2.30 (8.77%) on the session.
Strong world wide demand for liquefied natural gas is expected to further increase amid concerns about the safety of nuclear power generation.