The New York-listed LNG player said it will sell 11 million shares to the public and will offer underwriters options for an additional 1.65 million shares.

The cash will help the John Fredriksen-controlled company fund progress payments to Singapore's Keppel Shipyard for conversion of the 126,000-cbm Hilli (built 1975).

At today's price for Golar's shares on the Nasdaq stock exchange, the offering could bring in a total of $707m in gross proceeds.