OCI Partners LP, the largest merchant methanol producer in the US, announced terms for its IPO on Monday. The Nederland, TX-based company plans to raise $350 million by offering 17.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, OCI Partners LP would command a fully diluted market value of $1.6 billion.
OCI Partners LP, which was founded in 2013 and booked $378 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol OCIP. BofA Merrill Lynch, Barclays and Citi are the joint bookrunners on the deal.
