UPDATE 2-Hi-Crush Partners files for IPO of up to $200 mln
* To list on NYSE under 'HCLP'
* Barclays Capital and Morgan Stanley to underwrite IPO
July 9 (Reuters) - Hi-Crush Partners LP filed with U.S. regulators on Monday to raise up to $200 million in an initial public offering of its common units.
The Monroe County, Wisconsin-based company produces a type of sand called "proppants", used in a process called fracking in the oil and gas industry.
The proceeds from the IPO will be used to repay debt and fund capital expenditure, the company told the U.S Securities and Exchange Commission in a preliminary prospectus.
Barclays Capital and Morgan Stanley & Co will underwrite the offering, following which Hi-Crush expects to list itself on the New York Stock Exchange under the symbol "HCLP".
The company said its current customer base includes units of Halliburton Co, Baker Hughes Inc, FTS International LLC and Weatherford Internation Ltd.
For the year ended December 31, Hi-Crush reported a profit of $10.3 million on revenue of $20.4 million.
The filing did not reveal how many units the company planned to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
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