The Monsanto-backed biofuel producer has raised $65m from its initial public offering after revising its share price further downwards.
US-based agribusiness company Ceres raised $65m in its initial public offering (IPO) on Wednesday as its five million shares floated at $13.00 a share. The flotation came a fortnight after Ceres cut the range from $21-$23 to $16-$17.
The cut in price from initial filing to flotation is large but Ceres’ IPO is only the latest to see a cut with Synacor, ChemoCentryx and Roundy’s all floating earlier in the month at prices lower than their set range.
Post-flotation, agribusiness…
