Delek Logistics sets range at $19-21, could raise up to $170 million

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Delek Logistics Partners, LP, formed by Delek to own crude oil and refined products logistics assets in southeastern US, announced terms for its IPO on Thursday. The Brentwood, TN-based company plans to raise $160 million by offering 8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Delek Logistics Partners would command a fully diluted market value of $240 million. Delek Logistics, which was founded in 2012 and booked $888 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol DKL. BofA Merrill Lynch, Barclays, Goldman Sachs, and Wells Fargo Securities 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 The NASDAQ OMX Group, Inc.




This article appears in: News Headlines , IPOs

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