Ceres IPO watch: The U.S. renewable bio-material provider Ceres filed the IPO listing application to the U.S. SEC on January 25 with the proposed financing target of $110 million. Ceres plans to trade its shares under the ticker symbol “GERE” on the Nasdaq Stock Exchange and issue 5 million outstanding shares at the issue price of $21 to $23. Calculated by the mid issue price, the Ceres’s market capitalization will reach to $550 million. The Ceres IPO underwriting syndicate consists of Artal Luxembourg, Gimv, Oppenheimer Growth, Oxford Bioscience Partners, Soros and Warburg Pincus, Goldman Sachs, Barclays Capital, Piper Jaffray, Raymond James and Simmons & Company. Read more about the latest updated Ceres IPO Form S-1 summary.
Ceres was founded in 1996. Using advanced plant breeding and biotechnology, the company is developing dedicated energy crops as raw materials for renewable transportation fuels, electricity and bio-based products. As of November 30 2011, the company’s net sales reached $7 million over the previous 12 months.
GERE – Ceres IPO