LNG: Baupost and other US funds now 40% of register; company is fully funded; new management on board: valuation upgrade to $3.32
LNG: Baupost and other US funds now 40% of register; company is fully funded; new management on board: valuation upgrade to $3.32. With 80% of recent placement and a sell-down of the HQC shareholding taken up by US investors (who also own Cheniere Energy: LNG US), the register of LNG has quickly transformed so US institutions hold up to 40% of the stock. A number of well known investors now disclosed: Baupost Group, Valinor Management, Claren Road and Fairview Capital. Recent placement of $49.5m provides LNG with all remaining development capital required for Magnolia including all permitting and FEED activities through to Financial Close, build out the project team located in Houston, and review growth projects. Recent appointments of John Baguley (COO) and Rick Cape (CCO) both come with +30yrs of relevant experience. Upgrade in Magnolia valuation: $3.32/s. Please click here for new research report: (VIEW LINK)
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