Epic Gas is seeking up to $40m from investors in a private placement.
Epic, listed on the Merkur Market in Oslo, is working with DNB Markets on the fundraiser.
The LPG specialist says commitments are already in place from existing shareholders to meet the lower end of the $30m to $40m target.
Epic, the largest commercial operator and second largest owner of pressurised LPG carriers, says simply that the project is to raise working capital.
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