|
HLNG - Höegh LNG to raise capital as part of IPO and listing in June 2011
Oslo, 19.05.2011
Reference is made to the press release dated 13 May 2011, regarding Höegh LNG Holdings Ltd.’s (“Höegh LNG” or the “Company”) application for a listing of the Company’s shares on Oslo Børs (the Oslo Stock Exchange) with a planned listing in June 2011.
Over the last two weeks, Höegh LNG has met numerous potential investors. Feedback from these investor meetings has been positive and the interest in the Company’s share remains high. However, due to the current volatile market conditions and prevailing uncertainty, the Company has decided to postpone the private placement and instead raise capital as part of the planned listing on Oslo Børs in June.
The Chairman of the Board of Directors, Morten W. Høegh, explains:
"We have met with a broad investor universe with a positive view on the LNG sector and in particular Höegh LNG's position as one of the key players within the LNG regasification segment. Although we perceive the investor interest to be high, we have in consultation with our financial advisors decided to conduct an equity issue and raise the required capital in connection with the planned listing process. We aim to create an attractive capital markets vehicle, and in the current equity market investors increasingly demand an immediately liquid share, a request we seek to meet.”
DnB NOR Markets (Global Coordinator), ABG Sundal Collier and Pareto Securities act as Joint Lead Managers and Bookrunners in the equity issue transaction. Danske Bank and Nordea Markets act as Co-Managers.
This publication is not for distribution, directly or indirectly, in or into the United States, nor is it an offer for sale of or the solicitation of an offer to purchase securities in the United States. Any securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Höegh LNG Holdings Ltd does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into the United States.
About Höegh LNG:
Höegh LNG is an integrated floating LNG service provider with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for Liquefied Natural Gas (LNG). The Company operates a fleet of seven LNG carriers including two innovative Shuttle and Re-gasification Vessels (SRVs) operating as LNG carriers and floating terminals while delivering the natural gas to the market.
In addition, the Company holds a significant project development portfolio for both floating regasification as well as floating LNG production (FLNG). Headquartered in Oslo, Höegh LNG has established presence in Singapore, London and Tampa. In total the Company employs 350 people.
Höegh LNG
|