Adecoagro, a leading South American agricultural company, lowered the proposed deal size for its upcoming IPO on Friday. The company now plans to price its offering at between $11 and $12, 18% below the midpoint of the original $13-$15 range. While the company will still sell 28.6 million total shares, it lowered the insider selling component from 7.1 million to 166,000; Qatar's sovereign wealth fund still plans to purchase 7.4 million shares. The stock is expected to price later this morning on the NYSE under the symbol AGRO. Credit Suisse, Morgan Stanley, and Itau BBA are the lead underwriters on the deal.
