EuropeFinance and InsuranceGas

Höegh LNG raises cash for more FSRUs

Höegh LNG has raised NOK844m ($100m)in gross proceeds through an oversubscribed private placement of 6,920,000 new common shares, each with a par value of $0.01 at a subscription price of NOK122 per share.

The net proceeds “will provide financial resources to support Höegh LNG’s growth strategy to become one of the world’s leading providers of floating LNG services”, the company said in a release, suggesting it will order more FSRUs.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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