Reuters: Private Equity: UPDATE 1-PetroLogistics falls in market debut

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-PetroLogistics falls in market debut May 4th 2012, 14:01 Fri May 4, 2012 10:01am EDT May 4 (Reuters) - PetroLogistics LP's units fell 14 percent in their market debut, a day after the propylene producer priced its initial public offering at the bottom of an already lowered range. The company sold its units for $17 apiece, after trimming its expected range to between $17 and $19 per unit from its initial range of $19 to $21. The Houston-based company offered 1.5 million units and Propylene Holdings LLC sold the remaining 33.5 million units. The company had filed with U.S. regulators in June to raise up to $600 million in an IPO. Private equity firms Lindsay Goldberg and York Capital Management directly and indirectly own about 63 percent of PetroLogistics. According to a regulatory filing, the company owns and operates the world's largest propane dehydrogenation facility, that processes propane into propylene. Morgan Stanley, Citigroup Global and UBS Securities acted as lead underwriters for the offering.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions