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FLEX LNG Ltd. Announces Confidential Submission of Draft Registration Statement for Proposed Public Listing on the NYSE

FLEX LNG Ltd. announced yesterday that it has confidentially submitted a draft registration statement on Form 20-F to the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed listing of its ordinary shares on the New York Stock Exchange. No new securities will be issued in connection with the listing, which is expected to commence after the SEC completes its review process.

Flex raised $300m in equity back in October and this fully capitalized the company for the fleet of 13 large 5th generation two stroke slow speed LNG carriers. Hence Flex LNG will not do an IPO but rather a direct listing.

Image: FLEX LNG LTD.

In the 2018 annual report, published yesterday, CEO Oystein M. Kalleklev wrote:

“Flex LNG expects a further tightening of the LNG shipping market in the coming years, especially in 2019 and 2020, due to high growth in LNG production and higher demand for natural gas as utilities are switching from coal to cleaner natural gas. This is combined with increased sailing distances due to the increased supply from the U.S. and Russia in particular.”
Source: FLEX LNG Ltd

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