Westlake Chemical Launches IPO Between $19.00 And $21.00 Per Unit

By RTT News, 
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(RTTNews.com) - Westlake Chemical Partners LP Monday announced the commencement of its initial public offering of 11.25 million common units representing limited partner interests in the company, at an anticipated initial public offering price between $19.00 and $21.00 per common unit.

The company also expects to grant the underwriters a 30-day option to purchase up to an additional 1.69 million common units.

The company has been approved to list its common units on the New York Stock Exchange under the symbol "WLKP," subject to official notice of issuance.

The common units being offered represent an approximate 44.3 percent limited partner interest in the Partnership.

Westlake Chemical Corp. and its affiliates will own the remaining approximately 55.7 percent limited partner interest.

Barclays and UBS Investment Bank will act as joint book-running managers.

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Referenced Stocks: BCS , WLK

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