Reference is made to the press release dated 4 May, where Höegh LNG (HLNG) announced that it plans a private placement to partly finance expansion of its fleet of LNG re-gasification vessels, with subsequent listing on Oslo Stock Exchange in June.
The Board of HLNG has approved to raise capital in the range of USD 175 – 225 million at an indicative price per share of USD 9 – 12 through a private placement. This values HLNG at USD 254-339 million prior to the private placement. Leif Höegh & Co. Ltd. expects to hold 55 – 60% post private placement.
The bookbuilding period will start today, 9 May, at 09:00 CET and is expected to last until and including 20 May, 17:30 CET.
HLNG has appointed DnB NOR Markets, ABG Sundal Collier and Pareto Securities as Joint Lead Managers and Bookrunners for the upcoming transaction. Danske Bank and Nordea Markets have been appointed as Co-Managers.
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Source: HoeghLNG, May 9, 2011.