Northern Tier Energy, an independent oil refiner and retailer in the PADD II region of the US, announced terms for its IPO on Monday. The Ridgefield, CT-based company plans to raise $325 million by offering 16.3 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Northern Tier Energy would command a market value of $1.8 billion.
Northern Tier Energy, which was founded in 2010 and booked $4.3 billion in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol NTI. Goldman Sachs, Barclays and BofA Merrill Lynch are the joint bookrunners on the deal.
