Evogene set to raise $86m on NYSE

The plant genomics company will offer 5 million shares at $17.16 per share, at a company valuation of $412 million.

Plant genomics company Evogene Ltd. (TASE:EVGN) has announced terms for its NYSE public offering. The Rehovot-based company, which develops genetically enhanced seeds to elevate crop performance and productivity, plans to raise $86 million by offering 5 million shares at $17.16 per share. At the midpoint of the proposed range, Evogene would command a market value of $412 million.

Evogene, which was founded in 2000, and is already traded on the Tel Aviv Stock Exchange, reported $18 million revenue for the 12 months until the end of the third quarter of 2013. The company will trade on the NYSE under the symbol EVGN, the same ticker it uses in Tel Aviv.

Evogene filed confidentially in April. Credit Suisse and Deutsche Bank will serve as joint book-runners for the offering.

Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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