Posted: Oct 4, 2013 8:43 AM by Associated Press
Updated: Oct 4, 2013 10:35 AM
NEW YORK (AP) - OCI Partners units are down slightly Friday after the methanol producer's initial public offering priced at $315 million, which was less than the company expected.
The company's IPO of 17.5 million common units priced at $18 per unit. It expected the IPO to price at $19 to $21 per unit.
The units declined 11 cents to $17.89 in morning trading. They are now trading on the New York Stock Exchange under the ticker symbol "OCIP."
OCI Partners LP is based in Nederland, Texas. It runs a methanol and ammonia production facility on the Gulf Coast in Texas.
OCI Partners plans to use the money to pay down debts and increase production capacity at its facility.
Click here to submit a news tip to us!
Become a Facebook Fan!
Help those in need this holiday season
Win! Win! Win!
Wise Local Marketing!
Get news, weather and more on your smartphone and tablet!
Get texts for news, traffic, deals and more!
Sign up on KVOA.com for newsletters, exclusive deals, and more!
What's happening on News 4 @ 4
Stories and videos with Kristi's Kids
Check out the latest events FC Tucson has scheduled.
Let us help grow your business
Digital Channel 4.2
What's on KVOA and when!
Contact info for our department heads
KVOA's on air personalities!
Work at News 4 Tucson
Complete feeds of all KVOA.com stories
FCC Public File of Records, Reports, and More