Net proceeds from the share placement shall be used in support of ongoing liquefied natural gas (LNG) offtake marketing efforts, focused on Magnolia LNG, and for general corporate purposes.
A cleansing notice relating to the issue follows (see link below). The placement shares will be subject to voluntary escrow for 180 days from today's closing.
ABOUT IDG ENERGY INVESTMENT GROUP LIMITED
IDG Energy Investment is mainly engaged in global energy assets investment and management. It is currently focusing on the substantial investment opportunities arising from China's increasing demand for imported natural gas and the emerging North American LNG exporting market due to abundant low-cost shale gas supply. By investing in China's first non-stateowned LNG receiving terminal and one of the largest Canadian LNG export terminals under development, it has been making strategic investments along the LNG business value chain. Other energy assets invested by IDG Energy Investment include an upstream crude oil block in China, and a world-class shale block in Eagle Ford of the United States, etc.
IDG Energy Investment is affiliated with IDG Capital, a global leading private equity investment firm with its accumulated assets under management approximately US$ 20 billion. IDG Energy Investment's second largest shareholder, Foxconn, is the world's largest electronic products manufacturer and a Global Fortune 500 company ranking 27t h in 2017.
With strong supports from its shareholders, mature investment strategies, sophisticated cross-border transaction capabilities and in-depth knowledge on global energy market, IDG Energy Investment is best positioned to grasp the industry momentum brought by China's energy structural reform and the dynamic changes of the global natural gas market, and is committed to becoming the best cross-border energy asset investment manager of the region.
For further information, please refer to IDG Energy Investment's website:
ABOUT IDG CAPITAL
Founded in Boston in 1992, IDG Capital is a leading investment firm focused on developing companies through expertise in private equity, venture capital, and mergers & acquisitions. Since its inception, IDG Capital has expanded into fifteen cities around the world, including New York, Boston, London, Beijing, Shanghai, Hong Kong, Seoul, and Hanoi. Accumulated assets under management have grown from US$10 million in 1992 to approximately US$20 billion today.
IDG Capital focuses investment in four strategic sectors: Technology, Media and Telecommunications; Consumer and Entertainment; Healthcare; and Advanced Manufacturing/Clean- Tech and Energy. Within these sectors, IDG Capital will invest in companies at all stages of development: start-up, growth, maturity, pre-lPO and post-IPO. The size of investment ranges from one million to several hundred million U.S. dollars. To date, IDG Capital has invested in more than 700 companies and has made over 150 successful exits across the globe through IPOs and M&A.
For further information, please refer to IDG Capital's website:
To view the release, please visit:
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian based subsidiary, which is developing an 8 mtpa or greater LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company’s OSMR(R) LNG liquefaction process, a mid-scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
ContactMr. Micah Hirschfield
Sr. Manager, Communications and Investor Relations
Liquefied Natural Gas Limited