Alon USA Energy subsidiary files for IPO
NEW YORK (AP) — Alon USA Partners LP, a unit of refinery operator Alon USA Energy Inc., filed for an initial public offering on Friday.
Alon USA Partners runs a crude oil refinery in Big Spring, Texas, and it sells fuels produced at the refinery to customers in Texas, Oklahoma, New Mexico, and Arizona. The partnership was formed in August 2012. Its revenue was $1.7 billion in the first half of this year.
Alon USA Partners did not say how many common stock units it might sell, what price it expects, or when it might complete the IPO. The company registered its proposed IPO with the Securities and Exchange Commission. It said its units will trade on the New York Stock Exchange under the ticker symbol "ALDW."
Alon USA Energy is owned by Alon Israel Oil Co., which runs markets petroleum products and runs gas stations and convenience stores in Israel. Shares of Alon USA Energy rose 6 cents to close at $13.74 on Tuesday.