Golar LNG Partners is seeking to raise around $270 million in an initial public offering (IPO). The wholly-owned subsidiary of Bermuda-based liquefied natural gas shipping company, Golar LNG, will sell a total of 12 million of share at $22.50 per unit.

Golar plans to use the net proceeds from the offering to expand its fleet. The joint book-running managers for the sale are Citi, Bank of America Merrill Lynch and Morgan Stanley.

Click here for the release from Golar LNG.