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Oil storage company World Point Terminals files for a $212 million IPO
By: Renaissance Capital
World Point Terminals, a limited partnership formed to own,
operate, develop and acquire storage terminals for light refined
products, heavy refined products and crude oil, filed on Monday
with the SEC to raise up to $212 million in an initial public
offering. Although the LP was organized in 2013, its predecessor,
Center Point Terminals, was founded in 1990.
The St. Louis, MO-based company, which booked $74 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol WPT. BofA Merrill Lynch is the sole bookrunner on the deal. No pricing terms were disclosed.