Argentinian Bioceres, world’s top exporter of soybean meal livestock feed, plans to offer its shares to the public. The company applied to the U.S. Securities and Exchange Commission to operate on Wall Street, Reuters reported.
Argentine biotechnology firm Bioceres will use the $100 million it seeks by way of an initial public offering to power its current business, pay debt and make a minor acquisition, company CEO Federico Trucco told Reuters. Two days earlier the company applied to the U.S. Securities and Exchange Commission (SEC) to operate on Wall Street. Bioceres is a developer of agricultural genetics in Argentina, the world’s top exporter of soybean meal livestock feed.“The capitalization is fundamentally for a growth plan having to do with the commercialization of products that we have ready today, There is going to be a minor acquisition and repayment of debt.” Trucco said to Reuters in a telephone interview.
Rosario-based Bioceres develops genes for soy, corn, and wheat that withstand drought and cold temperatures. It makes insecticides, fungicides, bio-fertilizers and chemical-based fertilizers. The company filed a registration statement with the SEC for a proposed initial public offering of American depositary shares (ADSs) representing its ordinary shares on 8th January. Bioceres also has filed a petition to offer its ordinary shares in Argentina before the local market regulator. Foreign investors have been seeking more opportunities to buy Argentine equities since market-friendly President Mauricio Macri took office in December 2015.
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