BW LPG Feeds Its Aurora Appetite with More Shares
- Business & Finance
Following last week’s purchase round, Singapore’s owner and operator of very large gas carriers BW LPG Limited has continued its purchase of shares in Aurora LPG Holdings ASA.
Namely, after close of markets on 14 December 2015, BW LPG acquired a further 852,800 shares in Aurora LPG, representing 2.87% of the outstanding shares in the company.
As a result of the transaction, BW LPG now holds a total of 4.4 million shares in Aurora LPG, representing 15% of the outstanding shares in the company.
As part of the transaction, BW LPG has sold 765,388 existing shares in BW LPG held in treasury to Aurora LPG shareholders. As a result, BW LPG now holds 69,294 treasury shares, equivalent to 0.05% of its 136,291,455 outstanding shares.
Aurora LPG owns three 82,000 cbm VLGCs and six 84,000 cbm newbuilds scheduled for delivery from Korean shipbuilder Hyundai Heavy Industries in 2016.