News Column

Dorian LPG Ltd. Announces Launch of Initial Public Offering

May 17, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- Dorian LPG Ltd. ("Dorian LPG" or the "Company") announced the commencement of its underwritten initial public offering of 7,105,263 common shares. The initial public offering price is expected to be between $18.00 and $20.00 per share. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,065,789 common shares to cover over-allotments.

Dorian LPG has been approved to list its common shares on the New York Stock Exchange under the ticker symbol "LPG".

The Company intends to use the net proceeds from the offering to partly finance the construction of 19 Very Large Gas Carriers (VLGCs) being built in two Korean shipyards.

J.P. Morgan and UBS Investment Bank are acting as lead book-running managers for the offering. Clarkson Capital Markets and Wells Fargo Securities are acting as joint bookrunners in the offering. DNB Markets and Tudor, Pickering, Holt & Co. are acting as Senior Co-Managers and ABN AMRO, Arctic Securities, DVB Capital Markets and Fearnley Securities are acting as Co-Managers in the offering.

Keywords for this news article include: Dorian Lpg Ltd., Banking and Finance, Investment and Finance.

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Source: Investment Weekly News