CVR Partners IPO prices above range

NEW YORK (Reuters) – Initial public offering of CVR Partners LP, a unit of oil refiner CVR Energy Inc (CVI.N: Quote, Profile, Research), raised $307 million on Thursday, pricing units above the proposed range.

The partnership said it sold 19.2 million units for $16 each. It had planned to sell the units for $12 to $14 each.

CVR Partners makes nitrogen fertilizer out of petroleum coke produced at CVR Energy’s Coffeyville, Kansas oil refinery.

The IPO comes on the heels of the upsized offering by SandRidge Energy’s (SD.N: Quote, Profile, Research) royalty trust (SDT.N: Quote, Profile, Research) that rose more than 15 percent in its debut on Thursday.

CVR Partners units are expected to begin trading on the New York Stock Exchange under the symbol “UAN” (UAN.N: Quote, Profile, Research) on Friday.

Morgan Stanley, Barclays Capital and Goldman Sachs led underwriters on the offering.

(Reporting by Alina Selyukh; Editing by Bernard Orr)

CVR Partners IPO prices above range