Bermuda’s Gaslog Ltd. To Launch IPO
Based in Bermuda with executive offices in Monanco, GasLog Ltd. [GLOG] has scheduled a $400 million initial public offering [IPO] with a market capitalization of $1.071 billion at a price range mid-point of $17 for Friday, March 30, 2012.
The IPO managers are Goldman Sachs; Citigroup; J.P. Morgan and UBS.
GLOG is growth-oriented international owner, operator and manager of liquefied natural gas [LNG] carriers providing support to international energy companies as part of their LNG logistics chain.
GLOG’s owned fleet consists of 10 wholly owned LNG carriers, including two ships delivered to in 2010 and eight LNG carriers to be constructed by the world’s leading LNG shipbuilder, Samsung Heavy Industries.
Competition includes the major owners of LNG carriers include Bermuda’s Golar LNG Partners LP. Golar LNG Partners was formed by Golar LNG Limited to own and operate floating storage and regasification units and liquefied natural gas carriers under long-term charters.
