St. Louis-Area Petroleum Terminal Company Announces IPO

Clayton-based World Point Terminals LP will look to raise as much as $211 million through the sale of 8.75 million common units at $19 to $21 apiece in an initial public offering, trading on the New York Stock Exchange under the symbol WPT.

World Point operates more than a dozen petroleum-products terminals in the U.S., including locations in St. Louis and Granite City. The company is selling 3.9 million common units itself. A limited liability company controlled by Apex Oil Chairman Paul A. “Tony” Novelly is selling 4.9 million.

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