PBF Energy Prices IPO
Petroleum refiner PBF Energy priced shares in its initial public offering at $26 each, the mid-point of its expected price range, an underwriter told Reuters. The company was planning to sell 16.5 million shares at between $25 and $27 each. PBF Energy, a wholly owned subsidiary of PBF Energy Company LLC, operates three refineries in Ohio, Delaware and New Jersey with a combined capacity of 540,000 barrels per day. New Jersey-based PBF Energy intends to use the proceeds from the offering to buy back the stake held by private equity firms Blackstone Group and First Reserve Corp.
13 December 2012•1 min read
