PetroLogistics, Alpek Offer Stock | Chemical & Engineering News
Volume 90 Issue 20 | p. 21 | Concentrates
Issue Date: May 14, 2012

PetroLogistics, Alpek Offer Stock

Department: Business
Keywords: initial public offering, IPO, petrochemicals, PET, polyester, Mexico

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.

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