Dorian LPG Raises Cash to Finance Newbuild VLGCs
Dorian LPG Ltd. 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 (approx. USD 100 million) in gross proceeds to the company (the “Private Placement”).
The company plans to use the proceeds from the Private Placement to partially 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.
Dorian LPG, February 10, 2014