Alon USA prices IPO
DALLAS -- Alon USA Energy Inc. has announced the pricing of its initial public offering (IPO) of 10.2 million shares of its common stock, all of which will be sold by the company, at $16 per share. In connection with the offering, the company has granted the underwriters a 30-day option to purchase up to 1.53 million additional shares, to cover overallotments, if any.
The company's common stock is expected to begin trading on the New York Stock Exchange (NYSE) under the ticker symbol ALJ on July 28, 2005.
The offering is being [image-nocss] made through an underwriting syndicate led by Credit Suisse First Boston LLC, Deutsche Bank Securities Inc. and Lehman Brothers Inc. acting as joint book-running managers. The offering is being made only by means of a prospectus.
Alon USA, headquartered in Dallas, is an independent refiner and marketer of petroleum products operating primarily in the Southwest and South Central regions of the United States. It owns and operates a sour crude oil refinery in Big Spring, Texas, which has a crude oil throughput capacity of 70,000 barrels per day. Alon USA markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt in Texas. The company also operates convenience stores in West Texas and New Mexico under the 7-Eleven and FINA brand names and supplies motor fuels to these stores from its Big Spring refinery.