Marlin Midstream shares slip in initial trading

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Associated Press

Posted on July 26, 2013 at 2:02 PM

HOUSTON (AP) — Marlin Midstream Partners LP's shares slipped its initial hours of trading as a public company Friday.

The natural gas company priced its initial public offering of nearly 6.9 million shares at $20 per share.

That's below its earlier plan for a slightly smaller offering of nearly 6.3 million shares, which it expected to price between $19 and $21 per share.

By early afternoon Friday, its stock was trading at $19.70 while the broader markets were also lower.

Marlin was created to own, operate and acquire midstream energy assets. The company plans to use proceeds from the offering in part to repay debts.

The Houston-based company's shares are listed on the Nasdaq Global Market under the symbol "FISH".

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