Alon USA Energy (ALJ) Unit Alon USA Partners LP (ALDW) Commences 10M Common IPO
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Price: $18.58 +0.76%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 0.9%
EPS Growth %: +473.3%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 0.9%
EPS Growth %: +473.3%
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Alon USA Partners, LP, a Delaware limited partnership (NYSE: ALDW), announced today that it has commenced an initial public offering of 10,000,000 common units representing limited partner interests in Alon Partners pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission.
The underwriters will be granted a 30-day option to purchase up to an additional 1,500,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol "ALDW".
Alon Partners was formed by Alon USA Energy, Inc. (NYSE: ALJ) to own, operate and grow its strategically located crude oil refinery in Big Spring, Texas, with total throughput capacity of approximately 70,000 barrels per day, and the related petroleum products marketing business. The common units being offered to the public represent a 16% limited partner interest in Alon Partners, or an 18.4% limited partner interest if the underwriters exercise their option to purchase additional common units in full.
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and Citigroup are acting as joint book-running managers, Jefferies & Company, Inc. is acting as lead managing underwriter and Macquarie Capital (USA) Inc. and Tudor, Pickering, Holt & Co. Securities, Inc. are acting as co-managers.
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The underwriters will be granted a 30-day option to purchase up to an additional 1,500,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol "ALDW".
Alon Partners was formed by Alon USA Energy, Inc. (NYSE: ALJ) to own, operate and grow its strategically located crude oil refinery in Big Spring, Texas, with total throughput capacity of approximately 70,000 barrels per day, and the related petroleum products marketing business. The common units being offered to the public represent a 16% limited partner interest in Alon Partners, or an 18.4% limited partner interest if the underwriters exercise their option to purchase additional common units in full.
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and Citigroup are acting as joint book-running managers, Jefferies & Company, Inc. is acting as lead managing underwriter and Macquarie Capital (USA) Inc. and Tudor, Pickering, Holt & Co. Securities, Inc. are acting as co-managers.
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