This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dorian LPG Ltd. Announces Closing Of Private Placement Of Shares And Start Of Trading On The NOTC





STAMFORD, Conn., July 30, 2013 /PRNewswire/ -- Dorian LPG Ltd. ("Dorian LPG") is pleased to announce that it has successfully closed the private placement of 68.8 million shares at US $2.44/share raising approximately US $168 million. Arctic Securities ASA, Pareto Securities AS and Fearnley Securities AS acted as joint lead managers of the placement. The shares were admitted for trading on the OSLO OTC market on Tuesday, July 30, 2013, under the ticker DORIAN. Additionally, in the upcoming months, Dorian LPG intends to seek a listing of its shares on the Oslo Stock Exchange. The private placement was placed with international and Norwegian institutional investors. Following the closing of the private placement, Dorian Holdings LLC and SEACOR Holdings Inc. (NYSE:CKH) ("SEACOR"), who combined committed 32.4% of the private placement will together have a 50.1% stake of the total 93,221,621 shares outstanding.

(Logo: http://photos.prnewswire.com/prnh/20130730/NY55929LOGO )

Commenting on the closing of the private placement, Dorian LPG Chairman Mr. John Hadjipateras stated, "The equity issue was well received among high-quality institutional investors. With a good operational track record and modern ships on the water, as well as Eco-newbuildings and with the support of a solid shareholder base, Dorian LPG is well positioned to benefit from the anticipated strong growth in demand for LPG shipping."

Dorian LPG is a pure-play LPG shipping company, combining the LPG shipping activities of Dorian (Hellas) S.A. ("Dorian") and SEACOR, and is set to be a leading owner and operator of modern fuel-efficient Very Large Gas Carriers ("VLGCs"). Dorian LPG owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has ordered three fuel-efficient VLGC newbuildings from Hyundai Heavy Industries Co., Ltd. with deliveries in July and August 2014 and January 2015. Dorian LPG also holds fixed price options for an additional four VLGCs, giving the company opportunity for advantageous growth. Dorian LPG has offices in Connecticut, USA; London, United Kingdom and Piraeus, Greece.

For additional information, contact:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 18,234.71 -51.03 -0.28%
S&P 500 2,128.45 -2.37 -0.11%
NASDAQ 5,091.3550 +0.5610 0.01%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs