Issue Date: May 14, 2012
PetroLogistics, Alpek Offer Stock
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.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society