Cheniere Energy holding company plans $690M IPO

Cheniere Energy is aiming to raise $690 million through the initial public offering of a holding company, an effort to garner cash to develop assets and future projects, according to regulatory documents filed Friday.

That would be among the largest energy-related IPOs announced in 2013 , according to SNL Energy.

Cheniere Energy Partners LP Holdings, which expects to trade on the New York Stock Exchange under the symbol CQH, will exist only to hold a 55.9 percent stake in Houston-based Cheniere Energy Partners, a master limited partnership that owns regasification facilities at its Sabine Pass LNG terminal in Louisiana. It also is developing liquefaction units for an export terminal at the site.

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The holding company will allow Cheniere to segregate lower-risk, stable assets from higher-risk, early-stage  projects and marketing activities, Cheniere said in regulatory documents.

The company added that its equity offering in the holding company would give it a lower-cost source of capital funding.

“We believe that Cheniere Holdings will be attractive to investors that desire to invest in Cheniere Partners without the tax and other complexities arising from the ownership of master limited partnership securities,” the company said in a filing.

In the filing, the company did not disclose how many shares it would offer or their price.