Increase in Share Capital for Avance Gas

Avance Gas, one of the world’s leading owners and operators of very large gas carriers, has completed the bookbuilding period for the initial public offering of its shares.

Avance Gas has issued 4,894,262 new common shares, each with a nominal value of USD 1.00, at an offer price of NOK 122 per share (less the retail discount of NOK 1,500 to each of the 3,640 investors in the retail offering) in connection with the offering.

The new shares have been legally and validly issued as fully paid and have been registered in the register of members of the company in Bermuda, and the beneficial interests in the new shares have been registered in book-entry form in the VPS.

Following the issuance of the new shares, the authorised share capital of Avance Gas is USD 200,000,000 consisting of 200,000,000 shares with a par value of USD 1.00 each, of which 35,277,972 shares have been issued and fully paid.

Skandinaviska Enskilda Banken AB (publ.), Oslo Branch is acting as Global Coordinator for the offering and DNB Markets, a part of DNB Bank ASA and Pareto Securities AS, together with the Global Coordinator, are acting as Joint Bookrunners for the offering.

Danske Bank Markets, Nordea Markets, a part of Nordea Bank Norge ASA, and Swedbank Norway branch of Swedbank AB are acting as Co-Managers for the offering.

[mappress]
avancegas, April 15, 2014