Pryor company files for an ISO

Wednesday, April 20th 2005, 4:48 pm

By: News On 6

WASHINGTON (Dow Jones/AP) -- An Oklahoma-based paper company Wednesday filed an initial public offering to sell 1.88-million shares of stock for an estimated $7- to $9 per share.

Pryor-based Orchids Paper Products made the filing with the Securities and Exchange Commission.

Orchids makes tissue paper products, including paper towels, bathroom tissue and paper napkins and sells them primarily to discount stores.

The company expects about $13-million from the offering and it plans to use the money to buy and install a new paper machine, construct a building to house the paper machine and purchase related capital equipment.

The company plans to list its shares on the American Stock Exchange under the symbol TIS.