Analysts applaud BW LPG's $50m buyback as share price disappoints

Analysts from Clarksons Platou Securities have backed BW LPG's plan to buy back up to $50m of its shares.

The Singapore VLGC company announced the scheme on 8 December, together with six vessel sales.

Clarksons Platou managing director Frode Morkedal and associate Even Kolsgaard said in a note: "With the stock trading at 50% [of] our net asset value [NAV] estimate of NOK 95 [$10.57]