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Business
PetroLogistics, Alpek Offer Stock
by Alexander H. Tullo
May 14, 2012
| A version of this story appeared in
Volume 90, Issue 20
Two chemical firms have launched initial public offerings of common stock. PetroLogistics, which started up a propane dehydrogenation plant in Houston in 2010, priced its offering at $17.00 per share, reaping nearly $600 million. However, on May 4, the first day of trading, the price of the shares closed at $16.50. Meanwhile, Alpek, the chemical arm of Mexico’s Alfa Group, launched an IPO on the Mexican stock exchange, raking in $793 million. The company operates DAK Americas, one of the largest makers of polyethylene terephthalate in the U.S.
The power is now in your (nitrile gloved) hands
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