19 June 2014

BW LPG wins Deal of the Year Award

BW LPG has won Marine Money's Initial Public Offering Deal of the Year Award at the 27th Annual Marine Money Week Conference. The company was represented at the awards ceremony in New York on 18 June 2014, by Nicholas Gleeson (CEO) and Vijay Kamath (CFO).

In a category of worthy competitors, the award acknowledged the size of BW LPG as well as the near flawless execution of the listing, ultimately bringing to market a company that has delivered.

The IPO process was executed from concept to realisation in slightly over 3 months and was precipitated by BW Group’s acquisition of the Maersk fleet of 10 VLGCs, which had cemented its position as the world’s largest owner / operator of VLGCs. The IPO advisors contributed in an excellent execution of the transaction, which resulted in a strong book build, comprising leading international investment companies, the majority of whom still hold significant or larger positions.

“The execution of the IPO exemplified three of our corporate values: delivering on promises (which we have done and surpassed for our investors); acting for the future (creating a platform for growth and flexibility); and creating positive energy through collaboration (with literally all functional areas of BW Group and subsequently also BW LPG contributing to the AP Moller acquisition and the IPO)" says Mr Gleeson.

Mr Kamath adds, “We feel proud to have garnered this prestigious award. This award truly exemplifies our high standards of performance and delivery. We cannot but emphasise the team work that has delivered the listing and the subsequent share price increase. BW LPG looks forward to quality growth and striving to maintain our high standards every day."