Dorian LPG Expects To Price IPO In $18 And $20 Per Share Range - Quick Facts

(RTTNews) - Dorian LPG Ltd., a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs, announced the commencement of its underwritten initial public offering of 7,105,263 common shares. The initial public offering price is expected to be between $18.00 and $20.00 per share. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,065,789 common shares to cover over-allotments.

Dorian LPG has been approved to list its common shares on the New York Stock Exchange under the ticker symbol "LPG".

The company said it intends to use the net proceeds from the offering to partly finance the construction of 19 Very Large Gas Carriers (VLGCs) being built in two Korean shipyards.