STAMFORD, Connecticut, Feb. 12, 2014 /PRNewswire/ -- Dorian LPG Ltd. ("Dorian LPG" or the "Company") is pleased to announce the closing of the previously announced Private Placement of 28,246,000 new common shares at a subscription price of NOK 22.00 per share, raising approximately $100 million in gross proceeds (the "Private Placement"), and the registration of the newly issued shares on the Norwegian Over The Counter list in Oslo under the ticker "DORIAN".
The Company plans to use the net proceeds from the Private Placement to part finance the ECO-class VLGCs currently under construction and for general corporate purposes including working capital and transaction costs.
RS Platou Markets AS (bookrunner), Arctic Securities ASA and DNB Markets, acted as joint lead managers for the Private Placement.
For further information, please contact:
Marina Hadjipateras, Corporate Communications:
Tel.: +1-203-978-1234 / Mob.: +1-203-722-5087
Ted Young, CFO: Tel: +1-203-978-1234
About Dorian LPG Ltd.
Dorian LPG is a pure-play LPG shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 16 ECO VLGC newbuildings under construction and holds options for an additional three ECO VLGC newbuildings. Dorian LPG has offices in Connecticut, USA; London, United Kingdom and Piraeus, Greece. Additional information about the Company canbe found on the Company's website: www.dorianlpg.com.
SOURCE Dorian LPG Ltd.