Liquefied gas shipper Navigator slides as shareholder to cut stake

ReutersMar 20, 2026 10:21 AM

Liquefied gas carrier Navigator Holdings' NVGS.N shares down 5.9% premarket at $18.04 after secondary offering news

UK-based NVGS late Thurs announced selling shareholder BW Group to part with 7 mln shares

Also, co intends to repurchase 3.5 mln of offering shares from the underwriters

Sale by BW (Best on Water) would cut maritime firm's stake by 10% to 12.8%, or ~7.9 mln shares, per the prospectus

Prior to offering, NVGS had ~65.25 mln shares outstanding

Citigroup, DNB Carnegie, Fearnley Securities and Pareto Securities joint bookrunners for offering

NVGS shares closed up 1.9% at $19.17 on Thurs. Stock up ~11% YTD and 35% over the past 12 months

7 of 8 analysts covering the stock rate it "strong buy" or "buy", 1 "hold"; median PT $23, per LSEG

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