Avance Gas Holding Ltd operates in the global market for transportation of liquefied petroleum gas (LPG).
The Company is one of the world’s leading owners and operators of very large gas carriers (VLGCs), operating a fleet of 13 modern VLGC with four duel-fuel VLGCs on order.
On April 9, 2014, an initial public offering of Avance Gas shares was completed, raising $100 million from the issuance of new shares. Avance Gas’ three largest shareholders—Stolt-Nielsen Gas Ltd, Sungas Holdings Ltd and Frontline 2012 Ltd—simultaneously sold shares with an total aggregate value of $175 million, including over-allotment options. Trading of Avance Gas shares commenced on the Oslo Stock Exchange on April 15, 2014.