Adecoagro SA Shares Rise In U.S. Trading Debut
LOS ANGELES -- Shares of Adecoagro SA finished 9.1% at $12 in their trading debut on the New York Stock Exchange Friday. The agricultural firm has the backing of billionaire George Soros, and the Luxembourg-based company runs farmland in Brazil, Argentina and Uruguay. The shares priced on Friday at $11 each. A previously proposed price range of $13 to $15 had been cut to a range between $11 to $12. The initial public offering raised $314.6 million, and proceeds will partially go toward construction of new ethanol and sugar mill in Brazil.
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