Reuters: Regulatory News: UPDATE 1-PetroLogistics cuts expected IPO price range

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-PetroLogistics cuts expected IPO price range May 2nd 2012, 13:11 Wed May 2, 2012 9:11am EDT May 2 (Reuters) - PetroLogistics LP, which produces propylene from propane, cut the expected price range of its initial public offering of 35 million shares to between $17 and $19 per share. It had earlier expected the IPO to be priced between $19 and $21 per share. The Houston-based company expects to raise about $20.5 million in net proceeds at the mid-point of the new range. PetroLogistics is offering 1.5 million shares and its unitholder, Propylene Holdings LLC, is selling 33.5 million shares. Private equity-backed PetroLogistics intends to list its shares on the New York Stock Exchange under the symbol "PDH." Morgan Stanley, Citigroup Global, and UBS Securities are among the underwriters for the offering.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions