Adama To Cancel Wall Street Offering

November 23, 2014 | The Israeli crop protection company Adama will reportedly cancel its offering on Wall Street due to low demand from US investors at the offering price of $16-18 per share. Despite meetings with US financial institutions with the goal of successfully floating the company on the New York Stock Exchange (NYSE), the company was forced to cancel its offering, in the meantime. The company planned to issue 23.5 million shares at $16-18 per share, hoping to raise $376-423 million, at a valuation of $2.6-2.9 billion, after money. Adama was founded in 1945 and is headed by CEO Chen Lichtenstein.