The company issued nearly 11 million shares at $18 each compared to an expected upper range of $17 per share prior to its initial public offering. A further 1.65 million shares can be sold if demand remains strong as it began trading at $20 each.
Solazyme, a US-based developer of biofuels through the use of algae backed by a host of strategic investors, has floated above its expected price range to raise $197.6m.
The company issued nearly 11 million shares at $18 each compared to an expected upper range of $17 per share prior to its initial public offering. A further 1.65 million shares can be sold if demand remains strong as it began trading at $20 each.
In March, Solazyme aimed to raise $100m…
