IPO for Alon C-stores to Come
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Thursday, 11 December 2008 |
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Alon Israel Oil Co. Ltd. Chairman David Weissman is looking to float
Alon Brands Inc., a subsidiary of Alon USA Energy Inc., on the New York
Stock Exchange through an initial public offering (IPO) according to a
report by globes-online.com.
Alon Brands was formed in 2008 as a holding company of Alon's
7-Eleven convenience stores and FINA gas stations. In its
prospectus filed with the U.S. Securities and Exchange Commission
(SEC), Alon Brands said it seeks to raise $100 million in an IPO. The
company did not disclose how many shares it planned to issue or the
price range of the offering.
The company value can be estimated at a few hundred million dollars,
possibly as much as $500 million, according to the report. No offering
is likely for several months, until after the holidays. The market
climate may also influence the offering.
PetrolWorld 101208
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