Flotation price of $16 per share for biofuels company Amyris less than French oil major Total's purchase of 20% of the company in July.

Biofuels company Amyris, in which French oil major Total owns about 20%, has seen its stock price rise after its stock market debut late last month.

The maker of genetically-enhanced yeast to help make fuel, medicine and other products saw initial trading reach $16.55 per share after pricing its Nasdaq flotation at $16 each to raise $85m.

In June, Amyris sold 7.1 million shares of its series D preferred stock at $18.75 per share, to raise $133.2m from Total’s Gas & Power USA subsidiary, according to its regulatory filing ahead of its initial public offering.

After its initial public offering, Amyris has 40.4 million shares and a market capitalisation of about $650m.

Its venture capital investors include Kleiner Perkins Caufield & Byers, Khosla Ventures and TPG Biotechnology Partners.