Adecoagro S.A., a leading South American agricultural company with 38 farms in Argentina, Brazil and Uruguay, announced terms for its IPO on Thursday. The company plans to raise $400 million by offering 28.6 million shares at a price range of $13-$15. At the mid-point of the proposed range, Adecoagro S.A. will command a market value of $1.5 billion. Adecoagro S.A., whose predecessor was founded in 2002, booked $382 million in sales for the 12 months ended September 30, 2010. The company is backed by shareholders including Soros Fund Management and HBK Master Fund, and plans to list on the NYSE under the symbol AGRO. Credit Suisse, Morgan Stanley and Itau BBA are the lead underwriters on the deal, which is expected to price during the week of January 24.
