Admission to listing will be on a conditional basis (“if issued/if sold”) until the third day of listing in accordance with Section 2.5.2 of the Listing Rules.
The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Oslo Børs Listing Rules and have at least 25% spread of share ownership among the general public, as specified in section 2.4.1 of the Oslo Børs Listing Rules. The Board also stipulated that the company must raise at least USD 200 million of new capital through its planned primary share issue prior to the first day of listing.
The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 27 December 2013.
About BW LPG:
BW LPG is the world’s largest very large gas carrier (VLGC) owner and operator based on number of VLGCs and by LPG (Liquefied Petroleum Gas) carrying capacity. BW LPG owns and operates 36 gas carriers with a total carrying capacity of about 3 million cbm and a further 504, 000 cbm of capacity on order in Korea. With 35 years of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. BW LPG is associated with BW Group, one of the world’s leading shipping groups. BW Group is involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deep-water production.