CVR Refining, LP sets terms for $500 million US IPO

By Renaissance Capital,

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CVR Refining, LP, a limited partnership formed to own and operate petroleum refining and auxiliary businesses, announced terms for its IPO on Tuesday. The Sugar Land, TX-based company plans to raise $500 million by offering 20.0 million shares at a price range of $24 to $26. At the midpoint of the proposed range, CVR Refining, LP would command a fully diluted market value of $3.7 billion. CVR Refining, LP, which was founded in 2012 and booked $7.4 billion in sales for the 12 months ended September 30, 2012, plans to list on the NYSE under the symbol CVRR. Credit Suisse, Citi, Barclays, UBS Securities and Jefferies are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: CVRR

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