Avance Gas Holding (AVACF) has released an update.
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Avance Gas Holding Ltd. has announced the delivery of its third VLGC vessel, Sirocco, to BW LPG, receiving 1.35 million shares as part of the transaction, and net cash proceeds of $20 million. With this delivery, Avance Gas now holds a 3.3% ownership in BW LPG, with nine more vessels slated for delivery by the end of the year. This strategic move is part of Avance Gas’s broader fleet sale plan, enhancing its financial position and shareholder value.
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