•  
  •  
  •  

Green Plains' new downstream unit files for USD-250m IPO

Ethanol plant in the US. Featured Image: Jim Parkin/Shutterstock.com

March 9 (SeeNews) - US ethanol producer Green Plains Inc (NASDAQ:GPRE) said on Monday that a newly-formed downstream partnership has filed for an initial public offering (IPO) to raise up to USD 250 million (EUR 230m) gross.

More specifically, the newly-created subsidiary Green Plains Partners LP has submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC). The goal is to raise between USD 200 million and USD 250 million in gross proceeds from an offering of common units representing limited partner interests.

The new firm is expected to hold Green Plains' downstream ethanol transportation and storage assets, which are located in 12 states throughout the Midwest and Southeast US.

Green Plains noted that the date, number of common units to be sold and the price range for the transaction are not yet known. Market conditions will be considered when determining these factors, it added.

(USD 1.0 = EUR 0.920)

More stories to explore
Share this story
Tags
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription