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Stealthgas prices offering for $47m

Stealthgas prices offering for $47m
Stealthgas has priced an offering of 4.4m shares at $10.50 per unit for a gross haul of $47m.

Institutional investors and affiliates of ceo and president Harry Vafias' family took up the shares, which will net the LPG carrier specialist around $46.3m after expenses.

Global Hunter Securities is the sole underwriter for the offering, the proceeds of which will be used to fund newbuilds and for corporate purposes.

Stealthgas expects to take delivery of 17 newbuild LPG carriers between March 2014 to August 2015 totalling $345m.

TAGS: VLGC