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 The natural gas company priced its initial public offering of nearly 6.9 million shares at $20 per share. Marlin had filed plans with the Securities and Exchange Commission 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 $19.65 while the broader markets were down.
The company has given its underwriters the option of buying an additional 1 million shares to cover any overallotments.
At the close of the offering, the company says that the public will own a 38.6 percent limited partner interest in Marlin, or a 44.4 percent stake if the underwriters buy all the extra shares to cover overallotment.
Marlin is a limited partnership based in Houston, which was created to own, operate and acquire midstream energy assets. It currently owns a number of natural gas processing facilities and transportation pipelines.
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 The company plans to use proceeds from the offering to repay debts, settle an interest rate swap liability and pay for offering expenses.
Stifel, Baird and Oppenheimer & Co. are managing the offering, with Janney Montgomery Scott, Wunderlich Securities and Societe Generale. Ladenburg Thalmann & Co. Inc., Drexel Hamilton, Natixis and RB International Markets are serving as co-managers.
The company's shares are listed on the Nasdaq Global Market under the symbol "FISH".
[Associated
Press]
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