GasLog Starts IPO (Monaco)

GasLog Ltd.  said that it has commenced an initial public offering of 23,500,000 common shares.

The estimated price range for the initial public offering is $16.00 to $18.00 per shar, GasLog said in  a statement.

The underwriters will be granted an option to purchase up to 3,525,000 additional common shares from GasLog at the initial public offering price, less the underwriting discount.

The company also said it has been approved for listing on the New York Stock Exchange, subject to official notice of issuance, under the symbol “GLOG.”

GasLog is an international owner, operator and manager of LNG carriers.

GasLog’s owned fleet consists of 10 wholly-owned LNG carriers, including two ships delivered in 2010 and eight LNG carriers on order.

Including its owned ships, GasLog currently has 14 LNG carriers operating under its technical management.

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LNG World News Staff, March 19, 2012; Image: GasLog