Avance Gas Holding (AVACF) has released an update.
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Avance Gas Holding Ltd reported their highest ever half-year net profit of $207 million, boosted by the sale of four Very Large Gas Carriers (VLGCs) and strong trading results, leading to a significant dividend payout of $165 million or $2.15 per share. Following the sale of their remaining VLGC fleet to BW LPG for $1.05 billion, the company is set to become BW LPG’s second-largest shareholder with a 12.77% stake, while shifting focus to its four medium-sized gas carriers capable of transporting ammonia.
For further insights into AVACF stock, check out TipRanks’ Stock Analysis page.
