PDV America Inc.'s $1 billion offering was said to be four to five times oversubscribed yesterday, though an official estimate could not be obtained from underwriter Salomon Brothers Inc.

Robert Hickey, an assistant vice president and portfolio manager at Van Kampen Merritt Inc., said he put in for more of the offering than he received.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.