Innophos Holdings, the largest North American producer of specialty phosphates used in food and detergents, lowered the range for its IPO to $12-$13 from $14-$16 on Thursday. Although the offering will still consist of 8.7 million shares, the composition of the shares has changed. Insiders will now be offering only 700k shares, down from 2 million. Credit Suisse, Bear Stearns and UBS are managing the deal.
