July 11, 2018 / 6:03 AM / in 8 months

Vitol-Led Viva Energy IPO priced at bottom of bid range

MELBOURNE, July 11 (Reuters) - The float of Viva Energy, led by global energy trader Vitol, has been priced at the bottom end of the bidding range, valuing the Australian oil refiner and marketer at A$4.86 billion ($3.60 billion), two fund managers said on Wednesday.

The initial public offering, Australia’s biggest in nearly four years, was priced at A$2.50 a share, they said. Institutions had been asked to bid within a range of A$2.50 and A$2.65.

Viva Energy declined to comment. It is likely to announce the pricing and how much of a stake the Vitol-led partnership will retain upon listing on Thursday. ($1 = 1.3490 Australian dollars) (Reporting by Sonali Paul; Editing by Himani Sarkar)

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