Tortoise MLP Fund Inc. (NTG) a closed-end fund focused on natural gas infrastructure investments, announced pricing of initial public offering of common stock. The fund priced 42.4 million shares at $25.00 per share, raising $1.06 billion.
The fund granted underwriters 45-day option to buy additional 6.153 million common shares at the same price.
The fund intends to use offering net proceeds to invest in a portfolio consisting primarily of energy infrastructure master limited partnerships or MLPs and their affiliates, with an emphasis on natural gas infrastructure MLPs.
For comments and feedback: editorial@rttnews.com