Issue Date: June 27, 2011
PetroLogistics Files For Public Offering
PetroLogistics has filed a prospectus with the Securities & Exchange Commission for a $600 million initial public offering of stock. PetroLogistics’ main asset is a 1.2 billion-lb-per-year propylene plant that started up in Houston last year using propane dehydrogenation technology. The company had sales of $105.8 million during the first quarter of 2011 to customers including Dow Chemical, Total Petrochemicals, and Ineos. Proceeds from the stock sale will go to PetroLogistics’ private equity sponsors, Lindsay Goldberg LLC and York Capital.
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