Dorian LPG Ltd. announces that it has successfully completed a private placement of 28,182,000 new common shares of USD 0.01 par value at a subscription price of NOK 22 per share, raising NOK 620 million (~USD 100 million) in gross proceeds to the Company , the company said in its press release.
The company plans to use the proceeds from the Private Placement to part finance the ECO-class VLGCs currently under construction and for general corporate purposes including working capital and transaction costs.RS Platou Markets AS (bookrunner), Arctic Securities ASA and DNB Markets, have acted as joint lead managers for the Private Placement.
About Dorian LPG Ltd.
Dorian LPG is a pure-play LPG shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently has three 3 modern VLGCs and one 1 pressurized LPG vessel on the water. Dorian LPG has sixteen 16 ECO VLGC newbuildings. In addition, Dorian LPG holds options for three 3 ECO VLGCs. Dorian LPG has offices in Connecticut, USA; London, United Kingdom and Piraeus, Greece.