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Business

Kraton Cuts IPO Price

by Melody Voith
January 4, 2010 | A version of this story appeared in Volume 88, Issue 1

Kraton Performance Polymers netted $140 million in its initial public offering (IPO) with shares priced at $13.50. In a filing with the Securities & Exchange Commission in October, the firm initially said it hoped to offer the shares for as much as $18.00. Kraton says it will use the proceeds to repay a portion of its $323 million in debt and to fund projects related to its manufacture of isoprene rubber. Kraton’s main owners will continue to be the private equity firms TPG Capital and JPMorgan Partners.

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