Adecoagro files for $400 million IPO

BANGALORE (BestGrowthStock) – Billionaire George Soros-backed agricultural company Adecoagro S.A. on Thursday filed with U.S. regulators for a $400 million initial public offering of its common shares at an estimated price of $13-$15 apiece.

Adecoagro said it plans to sell 21.4 million shares, while stockholders will offer an additional 7.1 million shares, according to a preliminary filing with the U.S. Securities and Exchange Commission.

The Luxembourg-based company’s principal shareholders include Pampas Humedas LLC, an affiliate of Soros Fund Management.

It intends to use proceeds from the offering to finance mill construction in Brazil and for the acquisition of farmland. The company has operations in Argentina, Brazil and Uruguay.

Credit Suisse, Morgan Stanley, Itau BBA, Deutsche Bank Securities, Banco do Brasil Securities and Rabo Securities are underwriting the IPO.

Adecoagro said it applied for a New York Stock Exchange listing under the symbol “AGRO.”

(Reporting by Suzannah Benjamin in Bangalore; Editing by Maju Samuel)