Gas shipping company Dynagas ends unchanged in trading debut after IPO raises $225 million

Shares of Dynagas LNG Partners LP, whose ships transport natural gas, ended unchanged in its stock market debut Wednesday.

Dynagas, which is based in Greece, and its backers raised $225 million in an initial public offering. In the IPO, 12.5 million shares priced at $18 each.

They trade on the Nasdaq stock exchange under the ticker symbol “DLNG.”

Dynagas said it will use the money it raised to pay debt and potentially to buy more ships.

Dynagas closed at $18 Wednesday. Shares ranged from $16.75 to $18.10 throughout the day.