IHS Chemical Week

People & Business :: Earnings/Finance

PetroLogistics Plans to Raise $600 Million Through IPO

4:14 AM MDT | June 22, 2011 | Lindsey Bewley with Kerri Walsh

PetroLogistics (Houston) has filed for an initial public offering with the U.S. Securities and Exchange Commission. PetroLogistics did not disclose the selling price for each share, or how many shares it plans to issue, but says it plans to raise about $600 million from the IPO. The proceeds from the offering will be used to reimburse employees and company backers, including private equity firms. PetroLogistics will list on the New York Stock Exchange as PDH. PetroLogistics' 1.2-billion lbs/year PDH unit. PetroLogistics owns and operates the world’s largest...

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