Alon USA Partners files for IPO of up to $230 million
(Reuters) - Alon USA Energy Inc's (ALJ.N) limited partnership unit Alon USA Partners LP filed with U.S. regulators to raise up to $230 million in an initial public offering of its common units.
The Dallas-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs & Co, Credit Suisse and Citigroup are lead underwriters to the offering.
Alon USA Partners was formed this month to own and operate its parent's refining and petroleum marketing business in South Central and Southwestern regions of the United States, the company said in a filing.
Alon USA Energy posted net income of $146 million on revenue of $1.7 billion for the six months ended June 30, according to the filing.
Proceeds from the IPO will be used for paying down debt and capital expenditure purposes, Alon USA Partners said.
The filing did not reveal how many common units the company planned to sell or their expected price.
The company, which operates a crude oil refinery in Big Spring, Texas, intends to list its common units on the New York Stock Exchange under the symbol "ALDW".
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
The filing can be seen at: link.reuters.com/fyj42t
(Reporting By Neha Dimri in Bangalore; Editing by Maju Samuel)
WASHINGTON - The U.S. economy rebounded more strongly than initially thought in the second quarter with more of the growth being driven by domestic demand and less by restocking by businesses.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.