14 June 2006 17:09 [Source: ICIS news]
HOUSTON (ICIS news)--VeraSun Energy, the second-largest US ethanol producer, unveiled a 18,250,000-share initial public offering (IPO) to partially finance construction of two ethanol plants in the upper Midwest.
The IPO shares were priced at $23/share.
VeraSun said in a filing with the US Securities and Exchange Commission that it would receive an estimated $232.2m (€183.8m) in net proceeds from the IPO. The company said it planned to use the proceeds to finance a portion of construction costs of a northwest ?xml:namespace>
In addition to being the second-largest
VeraSun said it owns and operates two of the largest ethanol production facilities in the
VeraSun traded on Wednesday morning at $29.90/share, up $6.90 (30%) on the New York Stock Exchange.
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