Williams Partners rises in Big Board debut
Friday, August 19th 2005, 6:17 am
By: News On 6
TULSA, Okla. (Dow Jones/AP) -- The stock of Williams Partners LP rises in its debut on the New York Stock Exchange.
The spinoff of The Williams Companies is a Tulsa-based natural gas handler and processor. Units of the company closed at $25.65, up 19 percent from the offering price of $21.50 Thursday.
The company offered 5-million common units, raising $107.5-million.
Williams Partners said the units represent a 35 percent interest in the company.
Williams' affiliates granted managers of the offering an option for 30 days to sell up to 750,000 additional shares to meet demand.