A Bermuda-based energy company has floated a new subsidiary on the New York Stock Exchange, raising $192 million in the process.

Höegh LNG Holdings Ltd, which is listed on the Oslo Stock Exchange, formed Höegh LNG Partners LP, a Marshall Islands Master Limited Partnership (MLP).

The new business has been formed specifically to operate infrastructure for the liquefied natural gas industry, including floating storage and regasification units and liquefied natural gas carriers.

Law firm Appleby said yesterday that it acted as Bermuda and Cayman counsel to Höegh LNG Holdings Ltd and its subsidiaries in connection with the formation of Höegh LNG Partners LP.

The MLP’s initial public offering of 11.04 million common units represented limited partner interests in the MLP at $20 per unit. The common units began trading on the New York Stock Exchange on August 7, 2014 and the initial public offering successfully closed on Tuesday this week.

The common units offered represent a 42 percent limited partner interest in the MLP and Höegh LNG Holdings owns the MLP’s general partner and the remaining limited partner interest.

The Appleby Bermuda team was led by Cameron Adderley, global practice group head, Corporate, assisted by Corporate & Commercial partner Timothy Counsell and associates Jerome Wilson and Tiffany Boys.

In New York trading yesterday, Höegh LNG Partners LP, which trades under the ticker symbol HMLP, climbed 50 cents, or 2.1 percent, to close on $24.25.