FLEX LNG logo

FLNGo - FLEX LNG News Story

NOK99.2 1.4  1.4%

Last Trade - 07/05/21

Sector
Energy
Size
Mid Cap
Market Cap £459.6m
Enterprise Value £1.37bn
Revenue £117.7m
Position in Universe 505th / 1838

BRIEF-FLEX LNG: contemplated acquisition of two high-end MEGI LNGC newbuilds

Thu 16th February, 2017 3:35pm
Feb 16 (Reuters) - FLEX LNG Ltd  FLNG.OL : 
    * Announcement of contemplated acquisition of two high-end MEGI LNGC newbuilds and Private 
Placement 
    * Contemplating to enter into transaction for acquisition of shipbuilding contracts for two 
high-end MEGI LNGC newbuilds at Daewoo Shipbuilding and Marine Engineering Co. Ltd. 
    * Scheduled delivery in Q1 2018 
    * In addition is contemplating $100 million offering of new shares against cash payment 
    * If completed, offering implies issue of about 147 million - 150 million new shares in 
total 
    * Subscription price in offering will be set through accelerated book-building process in 
private placement within range of 11.50-12.00 Norwegian crowns per New Share (equaling 
$1.38-$1.44 at a USDNOK exchange rate of 8.33) 
    * Net proceeds from private placement will be used for debt repayment under RCF (at 
company's full discretion), working capital and general corporate purposes 
 
     
Source text for Eikon:  ID:nObidLVdba  
     
Further company coverage:  FLNG.OL  
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.