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Stock impact report

BW LPG completes acquisition of VLGC fleet from Avance Gas [Yahoo! Finance]

BW LPG Limited Common Shares (BWLP) 
Company Research Source: Yahoo! Finance
The acquisition was settled with a combination of cash, novation of sale-leaseback agreements, and share issuance, with the shares each priced at $17.25. BW LPG has issued 2.141 million new shares to Avance Gas as part-consideration for the BW Avior vessel. This issuance increases the total number of BW LPG shares to 159.282 million, with a share capital of $619.867m. Avance Gas now holds approximately 12.11% of BW LPG, with 19.282 million shares in its possession. Upon completion of the transaction, BW LPG's liquidity is estimated at $552m, as reported in its Q3 earnings release. BW LPG CEO Kristian Sorensen said: “I am very pleased to announce the successful closing of the transaction and the commencement of revenue generation from our additional 12 VLGCs. “I thank the Avance Gas team for ensuring an efficient and seamless handover process. We have issued 15% more shares to expand our owned fleet by 40% and through our enlarged fleet we are enhancing our commercial scale Show less Read more
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