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Petroleum refiner PBF Energy sets terms for $429 million IPO

By Renaissance Capital,  December 03, 2012, 08:15:17 AM EDT

PBF Energy, one of the leading independent petroleum refiners and suppliers in the US, announced terms for its IPO on Monday. The Parsippany, NJ-based company plans to raise $429 million by offering 16.5 million shares at a price range of $25 to $27. At the midpoint of the proposed range, PBF Energy would command a fully diluted market value of $2.5 billion. PBF Energy, which was founded in 2008 and booked $20 billion in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol PBF. Citi, Morgan Stanley, Credit Suisse and Deutsche Bank 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

Referenced Stocks: PBF



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