Tuesday, September 16, 2014
Inquirer Daily News

PBF trades up from IPO price

Refinery operator buying assets back from Blackstone, First Resources

PBF trades up from IPO price

Shares of PBF Energy, the Parsippany, NJ-based company that runs the former Valero refineries in Paulsboro and Delaware City and Sunoco's first refinery in Toledo, Ohio, have been trading a buck or two above last Thursday's initial public stock offering (IPO) price of $26 a share.

PBF, run by veteran refinery buyer and seller Thomas O'Malley, says it raised $533 million, and will use the money to buy back shares from investors First Reserve Corp. and Blackstone Group, as well as O'Malley. More in this PBF statement and in PBF's share prospectus.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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