CVR Energy Spikes 10%, Off New Year High; Subsidiary Files Proposed IPO


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CVR Energy, Inc. ( CVI ) is up 9.9% at $40.38, but drifting off a new year high of $40.65 after announcing that its indirect, wholly owned subsidiary CVR Refining, LP has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission in connection with a proposed initial public offering of its common units representing limited partner interests.

CVR Refining intends to list its common units on the New York Stock Exchange under the symbol "CVRR." The number of common units to be offered and the price range for the offering have not yet been determined. All of the common units to be sold in this offering (including the common units that may be sold to satisfy the underwriters' over-allotment option) will be sold by CVR Refining.

CVI has increased 90% in the last 12 months.

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This article appears in: Investing , Commodities

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