Adama Set To Issue NYSE IPO This Week

November 20, 2014 | The Israeli crop protection technology provider, Adama is nearing the closure of its IPO on the New York Stock Exchange this week. The company has spent the past week meeting with institutional investors in the United States to close to share price and listing details for the offering. Adama plans to issue 23.5 million shares valued between $16-18 per share, and therefore is set to raise between $376-423 million, at a market cap of $2.6-$2.9 billion, after money. The share price for the Adama offering is low, despite the fact that only six companies control the crop protection market, worth $59 billion. Adama was founded in 1945 and is run by CEO Erez Vigodman.