PBF Energy Inc., which is backed by buyout shops Blackstone Group and First Reserve Corp., has filed with regulators to raised up to $100 million in an initial public offering. The company, based in Parsippany, New Jersey, is a petroleum refiner. Citigroup, Morgan Stanley, Credit Suisse and Deutsche Bank Securities are underwriting the IPO, Reuters said.
(Reuters) – Petroleum refiner PBF Energy Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of its common stock.
PBF Energy intends to use the proceeds from the offering to purchase equity interests in its business from its existing owners, mainly the Blackstone Group and private equity firm First Reserve Corp.
The Parsippany, New Jersey-based company intends to list on the New York Stock Exchange under the symbol “PBF.”
Citigroup, Morgan Stanley, Credit Suisse and Deutsche Bank Securities are underwriting the IPO, the company said.
The company did not reveal how many shares it plans to sell or their expected price.
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.