Volume 95 Issue 8 | p. 13 | News of The Week
Issue Date: February 20, 2017 | Web Date: February 15, 2017

Avantium eyes $100 million IPO

Will use funds to help build its first biobased chemical plant
Department: Business
News Channels: Materials SCENE
Keywords: biobased chemicals, furan, IPO, Avantium, BASF

Avantium, a 2000 spin-off from Shell with technologies for converting plant sugars into biochemicals and polymers, says it will make an initial public offering of shares on two European stock exchanges by the end of March. The firm hopes to raise just over $100 million.

It is an unusual move. Biobased chemical companies have shied away from stock offerings in recent years because biomaterial prices have been suppressed by the low price of crude oil.

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