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Adecoagro S.A. (AGRO) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Adecoagro S.A. (NYSE:AGRO) is an agricultural company in South America. The company makes money by producing and selling products such as cattle, dairy goods, sugar, ethanol, and farming crops. Adecoagro has operations in Argentina, Brazil, and Uruguay. The company focuses on diversifying its products and relying on technology to reduce the level of volatility in the year to year revenue stream.[1]
By the end of 2009, Agecoagro owned approximately 260,000 Hectares for farming and 13,000 Hectares for Sugar, Ethanol and Energy. The company also produced more than 618K tons of crops (such as: soybeans, corn, wheat, and cotton), rice, and coffee, 47.5M L of Milk, and 53K tons of sugar. Adecoagro has incerasingly focused on producing sugar and ethanol in Brazil. The goal is to use these goods to make alternative energies which can be sold abroad. They currently run two mills, both in Brazil, which have a combined capacity of 5.2M tons of sugarcane per year. Adecoagro is in the process of obtaining the permits to build a third mill also in Brazil. The goal would be to build the mill so that it could eventually have the capacity to mill 6.3M tons of sugar cane per year. [2]
The company's initial public offering of stock on the NYSE occurred on January 27, 2011. The company offered 28.6M shares each for $11. This was at the low end of the revised range of $11-$12. The original deal was supposed to be within the range of $13-$15. This brought the final deal to $314M compared to $400M had the deal been priced at its original midpoint. The lead underwriters of the IPO were Credit Suisse, Morgan Stanley, and Itau BBA.[3]
For the full year 2010, Adecoagro's total sales were $174M. This was a 39% increase over the 2009 figure of $125M. For 2010, the company suffered a net loss of $90M. This was larger than the net loss of $18M reported in 2009. [4]
References
- ↑ AGRO F-1/A 2011 "PROSPECTUS SUMMARY" Our Company pg 1
- ↑ AGRO F-1/A 2011 "PROSPECTUS SUMMARY" Our Company pg 2-3
- ↑ Renaissance Capital - IPO Home "Adecoagro S.A. prices IPO at $11.00, the low end of the revised range" 28 Jan 2010
- ↑ AGRO F-1/A 2011 "PROSPECTUS SUMMARY" SUMMARY HISTORICAL FINANCIAL DATA pg 15-16
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