Singapore: BW Gas’s LPG fleet is planning an IPO in Oslo, spearheaded by Andreas Sohmen-Pao (pictured). BW Gas was listed for four years in Oslo previously before being privatized in 2009. BW gave no timeframe nor scale of its planned listing in a brief announcement Wednesday, merely saying that the board has "commenced work on an IPO and listing of BW LPG Limited on the Oslo Stock Exchange subject to receiving the relevant corporate and regulatory approvals as well as prevailing market conditions."
BW recently placed an order for four VLGCs at Hyundai Heavy Industries. The IPO may help finance these ships.
"The BW Group sees strong opportunities within the LPG segment and would like to provide new investors with the opportunity to invest alongside the BW Group," said Andreas Sohmen-Pao, CEO of BW Maritime.
VLGC rates have climbed 80% this year amid growing excitement about US shale gas finds. [05/09/13]
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