GasLog Ltd. To Offer 8.4 Mln Common Shares - Quick Facts

(RTTNews) - GasLog Ltd. (GLOG) announced that it plans to offer 8.4 million of its common shares to the public. The company intends to grant the underwriters of the Public Offering a 30-day option to purchase up to 1.26 million additional common shares.

Concurrently with the Public Offering, the Company is also selling through a private placement approximately $30 million of common shares to certain of its directors and officers and one of its major shareholders at the public offering price.

GasLog plans to use the net proceeds of the Public Offering and Private Placement to fund a portion of the purchase price of the company's recently announced purchase of three LNG carriers from Methane Services Ltd., an affiliate of BG Group, and for general corporate purposes.