PetroLogistics is seeking to raise about $600 million in an initial public offering of common stock, Reuters reports. The Houston, Texas-based company plans to list its common stock on the New York Stock Exchange. The company intends to use the proceeds to pay its sponsors, affiliates, executives and employees. The propylene producer has appointed Morgan Stanley, Citi, UBS Investment Bank and Wells Fargo Securities as the lead underwriters for the offering.
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