Conyers has advised BW LPG Ltd (BW LPG) on the Bermuda law aspects of its initial public offering (IPO) and listing on the Oslo Stock Exchange in November 2013. BW LPG offered new shares in the IPO and BW Group Ltd as selling shareholder sold a portion of its shares in BW LPG.
Marcello Ausenda, David Astwood, Guy Cooper and Victor Richards from Conyers’ Bermuda office acted for BW LPG and BW Group Ltd as selling shareholder, advising on all Bermuda law aspects of the IPO, which included shipping advice as BW LPG has vessels registered on the Bermuda Ship Registry.
The transaction required specialist Bermuda law advice as it involved a primary listing of legal interests (as opposed to beneficial interests) of a Bermuda-exempted company on the Oslo Bors.
BW LPG is the world’s largest owner and operator of very large gas carriers (VLGCs), by number of VLGCs and by LPG carrying capacity.