LPG

Dorian LPG Announces Public Offering of 2 Million Shares

Dorian LPG Ltd. (NYSE: LPG) has just announced a public offering of 2,000,000 shares of its common stock, par value $0.01 per share. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 300,000 common shares. Jefferies is acting as the lead bookrunning manager for the offering, with SEB also acting as a joint bookrunning manager.

The net proceeds of the offering are expected to be used for general corporate purposes. This offering follows the company's filing of a registration statement with the U.S. Securities and Exchange Commission (SEC) on August 22, 2022, which was declared effective by the SEC.

As of the last reported period, Dorian LPG Ltd. had a fleet of twenty-five modern very large gas carriers (VLGCs), including twenty eco VLGCs and four dual-fuel eco VLGCs. The company operates globally, transporting liquefied petroleum gas, and has offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and Athens, Greece. As a result of these announcements, the company's shares have moved -1.5% on the market, and are now trading at a price of $44.27. For the full picture, make sure to review Dorian LPG's 8-K report.

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