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Westlake launches $270-million IPO of ethylene MLP

7:44 AM MDT | August 4, 2014 | —Clay Boswell

Westlake Chemical Partners (Houston) began its initial public offering of 11.25 million common units on 30 July, listing shares on the New York Stock Exchange as WLKP. The company, a master limited partnership (MLP) established to operate the ethylene production facilities of Westlake Chemical (Westlake; Houston), priced the shares at $24.00 each, or $270 million in total. Shares opened the first day of trading at $30.28. Westlake Chemical Partners has given the underwriters a 30-day option to purchase up to 1.70 million additional common units. Depending on this...

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