LNG

Sept 10 (LNGJ) - Hoegh LNG, the Oslo-listed shipping and project development company, said it completed a 844 million Norwegian crowns ($102M) private placement of its shares. A notice was issued on the transaction by the Oslo bourse saying Leif Hoegh and Co. Ltd. (LHC), which is represented on the board of Hoegh LNG due to its ownership stake by Morten W. Hoegh (Chairman) and Leif O. Hoegh (Deputy Chairman), was allocated 692,000 shares in the placement at a subscription price of 122 Norwegian crowns per share. Following the transaction, LHC which is indirectly controlled by Leif O. Hoegh and a family trust under which Morten W. Hoegh is the primary beneficiary, holds a total of 31,866,789 shares, representing 41.48 percent of the shares in Hoegh LNG and 287,500 common units in Hoegh LNG Partners LP, the US master partnershiip.