The LPG shipowning and operating arm of BW Group confirmed on Friday it would be proceeding with the IPO which it expects to price in November.
BW said it expects to raise $275m - $300m from the IPO, which will be used to primarily finance its newbuilding programme.
“The BW Group sees strong opportunities for growth within the LPG segment and invites new investors to join us and invest alongside the BW Group”, said Andreas Sohmen-Pao, ceo of BW Maritime.
BW Group is targeting to maintain a shareholding of 45% - 55% in BW LPG after the offering.
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