Rentech Nitrogen Partners L.P. filed for an initial public offering of up to $250 million in common units.
The limited partnership was formed by Rentech Inc. (RTK) to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogen intends to use proceeds for general working capital purposes, among other aims.
Following the offering, the partnership's assets will consist of an Illinois nitrogen fertilizer facility that is currently owned by Rentech Energy Midwest Corp., another wholly owned subsidiary of Rentech Inc.
The company swung to a profit for the six months ended March 31 as revenue surged 44% and inputs costs declined.
The company intends to list its stock on the New York Stock Exchange under the symbol RNF.
No comments:
Post a Comment