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Hi-Crush Partners sets terms for $225 million US IPO

By: Renaissance Capital
Posted: 8/7/2012 8:53:00 AM
Referenced Stocks: HCLP

Hi-Crush Partners LP, a producer of proppants used in recovering hydrocarbons from oil and nat gas wells, announced terms for its IPO on Tuesday. The Houston, TX-based company plans to raise $225 million by offering 11.3 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Hi-Crush Partners would command a market value of $546 million.

Hi-Crush Partners LP, which was founded in 2012 and booked $55 million in sales for the 12 months ended June 30, 2012, plans to list on the NYSE under the symbol HCLP. Barclays, Morgan Stanley, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.