Greek LPG operator Stealthgas today upped the size of its planned secondary share offering by 20%, putting the company on track to raise over $120m for recent ship purchases.



US-listed Stealthgas will issue 7.2 million shares in the offering, up from a previously declared 6 million, and announced today the stock issue had priced at $18 per share.



The money will go towards paying the remaining balance on five of nine LPG carriers recently bought by the company.



The offering was managed by Citigroup and Cantor Fitzgerald, with support from Johnson Rice, Morgan Keegan, DVB Capital Markets and Scotia Capital as co-managers.



Stealthgas