In a statement the Navios Maritime Acquisition Corp offshoot said it raked in approximately $121.5m from the sale of 8.1 million units that commanded $15.00 a piece.

The master limited partnership (MLP), which started trading on the New York Stock Exchange under the symbol “NAP” today, said this represent a 42.5% stake.

“Following the IPO, Navios Acquisition expects to own approximately 55.5%