Golar LNG has completed a directed equity offering
biz.yahoo.com
Tuesday July 29, 4:12 am ET
OSLO, Norway, July 29, 2003 (PRIMEZONE) -- Golar LNG
(NasdaqNM:GLNG - News) has completed a directed equity
offering of 5,600,000 shares towards international institutional
investors. The equity offering was significantly oversubscribed.
The subscription price is NOK 73 per share, and the issue will
give net proceeds of USD 57 million. The company's share
capital will after the registration of the share issue consist of
61,612,000 shares, each at a par value of USD 1.00. The
managers of the directed issue have been Orkla Enskilda
Securities and Fearnley Fonds. The total number of outstanding
options is 300,000, with strike price of USD 5.50.
The capital that has been
raised will be used as equity
for new projects. The
Company has in connection
with the offering signed a
letter of intent with a major
shipyard for 1 + 1 LNG
Newbuildings for delivery in
2005 and 2006. The first
berth will have to be
declared effectively before
August 31st 2003.
Chairman in Golar LNG John Fredriksen says in a comment:
``We are very pleased with the response to the placement. The
LNG business is a long-term business where it is important to
plan ahead. The current equity placement gives Golar free
Capital to plan for future growth.''
Golar LNG maintains its expectations for the 2003 results, in
line with what has previously been communicated to the market. |
