PBF Energy, one of the leading independent petroleum refiners and suppliers in the US, announced terms for its IPO on Monday. The Parsippany, NJ-based company plans to raise $429 million by offering 16.5 million shares at a price range of $25 to $27. At the midpoint of the proposed range, PBF Energy would command a fully diluted market value of $2.5 billion. PBF Energy, which was founded in 2008 and booked $20 billion in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol PBF. Citi, Morgan Stanley, Credit Suisse and Deutsche Bank Securities are the joint bookrunners on the deal.
