UPDATE 1-Verso Paper files 18.8-mln-share IPO at $16-$18/shr

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April 28 (Reuters) - Verso Paper Corp, a producer of coated freesheet, filed for an initial public offering of about 18.8 million shares at an estimated price of $16 to $18 per share.

Verso Paper expects net proceeds from the offering of about $295.8 million, after deducting underwriting discounts and estimated offering expenses, assuming the mid-point of the IPO price range.

It plans to use the net proceeds to repay debt and for general corporate purposes.

In an amended filing with the U.S Securities and Exchange Commission, the company said Credit Suisse Securities LLC and Citigroup Global Markets Inc were acting as the representatives for the underwriters of the IPO.

The underwriters may also buy up to an additional 2.8 million shares of the common stock from Verso Paper Investments LP, the general partner of the company's principal stockholder, Verso Paper Management LP, and an affiliate of Apollo Global Management LLC.

Verso Paper Investments LP is the general partner of Verso Paper Management LP and controls all of the voting interests in Verso Paper Management LP.

The Memphis, Tennessee-based company said it will apply for a New York Stock Exchange listing under the symbol "VRS." (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Amitha Rajan, Bernard Orr)