Bioceres, which sells biologic agrochemicals and develops seed productivity traits in Argentina, announced terms for its IPO on Tuesday. It plans to list on the NYSE and Argentina's BYMA under the symbol BIOX.
The Rosario, Argentina-based company plans to raise $130 million by offering 11.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Bioceres would command a fully diluted market value of $497 million.
While Bioceres has recently shifted focus toward selling chemicals, it still maintains a crop trait development arm, and gene-editing crop trait developer Calyxt (CLXT) was a top IPO of 2017. Bioceres is the third Argentina-based company scheduled for a US IPOs, joined by power producer Central Puerto (CEPU) and airport operator América Airports (CAAP).
Bioceres was founded in 2001 and booked $128 million in pro forma sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol BIOX. Jefferies, Piper Jaffray, Santander and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of February 5, 2018.
