The company is offering 4,250,000 common shares, priced at $23.75 per share.
After deducting underwritten discounts and other offering expenses, the net proceeds from the public offering are expected to be approximately $95 million.
Proceeds from the public offering will go toward funding the company's recent purchase of three LNG carriers from Methane Services Ltd. (MSL). The offering is expected to close on or about April 16.
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TheStreet Ratings team rates GASLOG LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GASLOG LTD (GLOG) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."