Evogene completes US IPO
The Israeli biotechnology company, Evogene (Rehovot), has raised $84.8 million in its US initial public offering. The company sold 5.75 million ordinary shares at $14.75/share on the New York Stock Exchange in its US IPO this month (Agrow No 677, p 6). That includes the exercise in full by the underwriters of their option to purchase up to 750,000 additional ordinary shares. Evogene intends to use about half of the proceeds from the IPO on its seed trait research, with the remainder being targeted at "ag chemicals" and biofuels (Agrow ibid).