OCI Resources commences 5 million-common unit IPO
OCI Resources LP had announced today the launch of its initial public offering (IPO). The company would be offering 5,000,000 of its common units that represented a limited partner interests. This was pursuant to a registration statement filed by the company with the US Securities and Exchange Commission.
OCI granted the underwriters for the deal a 30-day option to purchase additional common units. The said option would allow underwriters to acquire up to 750,000 shares at the initial public offering price. The company would be listed on the New York Stock Exchange under the trading symbol "OCIR".
The public ownership would represent around 25.1% of the limited partner interest in the company after the IPO come to a conclusion. It would also mean around 28.8% limited partner interests should the underwriters exercise their 30-day option to purchase additional common units in full.
OCI Enterprises Inc., a subsidiary of OCI Resources, would hold a 2.0% general partner interest. It would also hold the remaining limited partner interest in the company.
Goldman Sachs & Co and Citigroup were appointed as joint book running managers for the offering. Barclays and Credit Suisse would serve as acting co-managers for the IPO.