Epic Gas opens book on $60m equity raise to fund four-ship purchase

Epic Gas has opened the book on a $60m equity raise which will help fund the purchase of four second-hand vessels.

Epic, in which BW Group is now the major shareholder, has launched the subscription period for what is the first major fundraiser for a mainstream shipowner in the Norwegian capital markets this year.

Uta Urbaniak, chief financial officer of Epic Gas, explained: “The recovery for large ship sizes is underway, so we believe this is a good time to buy second hand ships and that these will be profitable from day one.”