BW Group offloads seven million BW LPG shares

Singapore’s BW Group has announced that it has completed the sale of up to 7m common shares in BW LPG for NOK58.5 ($6.41) per share.

The company retained Skandinaviska Enskilda Banken as manager and bookrunner for the deal through an accelerated bookbuilding process.

The placement represents around 5% of the outstanding shares in BW LPG, with BW Group still holding around 42% in BW LPG following the sale.

BW said the purpose of the placement is to return free float to the market and increase the liquidity in the BW LPG share.

“BW Group will remain as a large and long-term shareholder in BW LPG with a 42% position and is very positive about the LPG market fundamentals,” the company said.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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