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OCI Partners slips as IPO prices below estimates

October 04. 2013 12:36PM
Associated Press

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(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.

Associated Press

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