NPRA ’10: TPC plans no additional shares in public stock listing

29 March 2010 17:01  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--US butadiene (BD) producer TPC Group has no immediate plans to issue additional shares once its stock is publicly listed, which could happen during this quarter, its CEO said on Monday.

TPC Group could be listed on either the NASDAQ or the New York Stock Exchange (NYSE), said chief executive Charles Shaver. Since each exchange allows ticker symbols of differing length, Shaver said the company still has not determined the letters of its new symbol.

The public listing will be a first for the TPC Group, Shaver said. Currently, the company’s shares are traded over the counter.

A public listing will require the TPC Group to disclose more information publicly, providing more transparency to shareholders, Shaver said.

Plus, the listing will make it easier for investors to buy and sell TPC shares.

“We feel we really have a good story,” Shaver said.

TPC is a major producer of butadiene (BD), but it also produces fuel products, lubricant additives, plastics and surfactants.

The Houston-based company in late January changed its name to TPC Group from Texas Petrochemicals, saying the new name reflected the increasing breadth and scope of its product lines and services.

Shaver made his comments on the sidelines of the International Petrochemical Conference (IPC). Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.

For more on BD visit ICIS chemical intelligence
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By: Al Greenwood
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