Western Gas Equity, PBF Energy set IPO terms
* Western Gas Equity sees IPO priced at $19-$21 per unit
* To list units on NYSE under symbol "WGP"
* PBF Energy sees IPO priced at $25-$27 per share
* To list Class A shares on NYSE under symbol "PBF"
Dec 3 (Reuters) - Western Gas Equity Partners LP and PBF Energy Inc set price ranges on Monday for their proposed initial public offerings as energy companies look to tap a stabilizing United States IPO market.
Texas-based limited partnership Western Gas Equity, which owns interests in Western Gas Partners LP, plans to sell 15 million shares at between $19 and $21 each. Western Gas Partners is a wholly-owned unit of Anadarko Petroleum Corp .
At the top end of the range, the offering will raise $315 million, below the up to $362.4 million the company initially filed to raise last month.
Western Gas Equity, formed in September, intends to make initial distribution of 16.5 cents per common unit following the offering. The company plans to list on the New York Stock Exchange under the symbol "WGP".
Petroleum refiner PBF Energy Inc plans to sell 16.5 million shares at between $25 and $27 per share, raising about $445 million in proceeds it plans to use to buy back stake from its existing owners -- private equity firms Blackstone Group and First Reserve Corp.
New Jersey-based PBF had filed an initial placeholder offering amount of up to $100 million in November 2011.
PBF Energy intends to list its Class A shares on the New York Stock Exchange under the symbol "PBF".
The dual class share structure will allow holders of Class B shares, including Blackstone and First Reserve, to maintain about 83 percent of the voting power, a regulatory filing showed.
Citigroup and Morgan Stanley are lead underwriters to the PBF Energy offering, while Barclays and Citigroup are acting as representatives for underwriters on the Western Gas Equity IPO.