Alon USA Energy Inc., issued 10.2 million shares at $16 per share in the first stage of its Initial Public Offering on the New York Stock Exchange. The market cap of the company at that share price is about $696 million. The company's shares trade under the symbol ALJ and began trading at nearly a 10% premium over the issue price.
Dallas-based Alon USA is a subsidiary of Alon Oil Company Ltd. Alon USA has 1,415 employees. It operates 1,700 gas stations under the FINA brand, mainly in the Southwest, and 167 convenience stores in western Texas and New Mexico under the 7Eleven brand.