Northern Tier, Kayak up after IPOs

Overshadowed by the initial public offering of Kayak Software Corp., Northern Tier Energy L.P. saw its own shares appreciate nearly 8 percent as of Friday morning following its IPO July 26.

Ridgefield-based Northern Tier raised  $228 million, using the proceeds to pay off debt incurred in its December 2011 acquisition of Marathon Oil Corp.”™s interests in a Minnesota refinery and related assets.

CEO Mario Rodriguez previously was managing director in the global energy investment banking division of Citigroup Global Markets, and the company”™s president Hank Kuchta held the same title at the former Greenwich-based refiner Premcor, which was acquired in 2005 by Valero Energy Corp. for nearly $7 billion.

In the first quarter, Northern Tier reported a $194 million loss on $1 billion in revenue. Northern Tier (NYSE: NTI) shares traded above $15 Friday morning, compared to an IPO price of $14 on July 26.

For its part, Kayak (Nasdaq: KYAK) shares neared $33 Friday morning, up from the $26 at which they were priced for sale in the company’s July 23 IPO. Kayak is currently based in Norwalk and plans to designate Stamford as its new headquarters.