Conyers Dill & Pearman advised GasLog Ltd. on its $329 million IPO on the New York Stock Exchange on March 29, 2012, selling 23,500,000 million shares for $14 per share. GasLog, which owns and operates a fleet of ships that transport LNG, completed its IPO after hiring costs for vessels set a record.
Marcello Ausenda, David Astwood and Elliot Hubbard acted as Bermuda counsel to GasLog, advising on all Bermuda law aspects of the IPO, which included shipping advice, as the Company’s fleet of ships is registered on the Bermuda Ship Registry.
Cravath, Swaine & Moore LLP acted as US counsel for the Company. Goldman Sachs Group Inc, Citigroup Inc., JPMorgan Chase & Co. and UBS AG managed the offering. Morgan, Lewis and Bockius advised the underwriters.
Chief Executive Officer Peter G. Livanos remains the Company’s biggest shareholder following the IPO.
Conyers has specialist expertise in the shipping IPO space, and prior to the GasLog IPO, advised the following issuers: Arlington Tankers Ltd. (NYSE), TBS International Ltd. (NYSE), BW Offshore Ltd. (Oslo) and BW Gas Ltd. (Oslo). Conyers also advised Freescale Semiconductor Holdings I, Ltd. on its US$800 million IPO on the New York Stock Exchange in May 2011, and advised Kosmos Energy Limited on its $500 million IPO on the NYSE in May 2011.