Navigator Gas falls after upsized secondary offering prices

Navigator Holdings

12/06/2024 13:29

** Shares of Navigator Holdings  NVGS.N  down 4.1% at $15.50
premarket after liquefied gas shipper's overnight secondary
offering prices
    ** UK-based co announces 7 mln shares sold by BW Group at
$15, 7.2% discount to stock's last close
    ** Offering size boosted from 6 mln shares
    ** In addition, co to purchase 3.5 mln shares from
underwriters Citigroup and DNB Markets at $14.52, price paid to
them by maritime firm BW (Best on Water)
    ** Transactions cut BW's stake from ~30% to ~21%, or roughly
14.9 mln shares, per SEC prospectus filing
    ** Through Tues, NVGS shares up 11% YTD and up nearly 25%
over the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))