Hoegh LNG Board Approves Capital Raising (Norway)
The Board of Höegh LNG (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.
Source: Höegh LNG, May 9, 2011;