GasLog files to sell 39.5M common shares

GasLog (GLOG) files for a ~39.5M common stock offering by selling shareholders.

GLOG will receive no proceeds from any sales of the shares.

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Comments (5)
  • jackalmeleh
    , contributor
    Comment (1) | Send Message
    I don't quite understand. Gaslog states it's not receiving the proceeds from the stock sold. Are they offering to buy back shares?
    30 Mar 2014, 03:26 AM Reply Like
  • Investorix
    , contributor
    Comments (34) | Send Message
    They're diluting the current shareholders for sure.
    30 Mar 2014, 09:06 PM Reply Like
  • 11146471
    , contributor
    Comments (1395) | Send Message
    They are not diluting anyone.


    They filed this in order to be free to sell (as a whole or partially) this amount of shares without having the obligation to report to the SEC every time they do so.


    This is more like an open option to sell form the existing pool of shares, without affecting the smaller shareholder.


    My guess is that they have found a big buyer (at a higher price) that want to be part of the game and grab a big chunk (or even get the business private). A big P-E firm probably? Who knows.


    Or maybe a merger.
    31 Mar 2014, 06:31 AM Reply Like
  • Rod McGillivray
    , contributor
    Comments (3) | Send Message
    The sellers could only be Livanos, Radziwill, and the Onassis family. They currently hold approx. 45 million shares.
    31 Mar 2014, 09:42 AM Reply Like
  • 11146471
    , contributor
    Comments (1395) | Send Message
    Onassis maybe not as they got very late in the game and at a high price... check latest secondary share issue.
    31 Mar 2014, 10:10 AM Reply Like
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