Liquefied gas shipper Navigator slides as shareholder cuts stake in $140 mln secondary offering

ReutersMar 20, 2026 1:08 PM

Liquefied gas carrier Navigator Holdings' NVGS.N shares down 4.8% premarket at $18.25 after $140 mln secondary offering prices

UK-based NVGS announces BW Group parts with 8 mln shares at $17.50

Offering, boosted from 7 mln shares, prices at 8.7% discount to stock's last close

Also, co intends to repurchase 3.5 mln of offering shares

Sale by BW (Best on Water) cuts maritime firm's stake from 22.8% to ~11%, or ~6.9 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

Through Thurs, NVGS shares 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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