Strong interest in the listing
The IPO was launched on 7 November 2013 with a pricing range of NOK 40 – 50 per share. The senior management team undertook a roadshow which included Scandinavia, UK and the US, receiving significant interest from investors in all locations. The bookbuilding period began on 11 November 2013 and the IPO was covered at the lower end of the price range within the first day. On 18 November 2013, based on the orders received, the indicative price range was adjusted to NOK 45-50 per share. The offer period was also accelerated to end on 20 November 2013.
The final offer price was NOK 47 per share, implying a market capitalisation of approximately NOK 6.4 billion. Trading in the shares of BW LPG Limited with the ticker code “BWLPG” commenced on 21 November 2013. Unconditional trading in the shares began on 26 November 2013. The stock opened at NOK 49 and in the period since the listing, BW LPG’s price has traded upwards, touching a peak of NOK 76.25 per share in January 2014.
This IPO won Marine Money's Initial Public Offering Deal of the Year.