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Orascom seeks to raise $480 million from methanol IPO

6:26 AM MDT | June 21, 2013

OCI Partners, established in February by Orascom Construction Industries (OCI; Sittard, Netherlands), on 14 June filed with the SEC to raise up to $480 million in a previously announced initial public offering (IPO). The company expects to list its common units on the New York Stock Exchange under the symbol OCIP. Bank of America Merrill Lynch, Barclays, and Citi are the joint bookrunners on the deal. The company operates a methanol plant at Beaumont, TX, with an annual capacity of about 730,000 m.t., making OCI the largest merchant methanol producer in the...

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