Vitol-Backed Viva Energy Said to Price IPO Shares at A$2.50 Each

Viva Energy Australia Ltd., an Australian fuels business backed by a consortium headed by independent oil trader Vitol Group, will sell shares in its initial public offering at A$2.50 apiece, according to people with knowledge of the situation.

The Vitol-led group aims to sell 50 percent to 60 percent of its stake, and if it achieves that target the deal will raise between A$2.4 billion ($1.8 billion) and A$2.9 billion, said the people, who asked not to be identified as the details are private. Shares in the IPO, the country’s largest since 2014, had been offered at A$2.50 ...