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Business

Intrepid Potash Has Stock Market Debut

April 28, 2008 | APPEARED IN VOLUME 86, ISSUE 17

Intrepid Potash made its debut on the New York Stock Exchange last week with an initial public offering that raised $960 million. Rising demand for food in developing countries and for biofuels in developed countries has driven up demand for crop nutrients such as potash, which is now selling at record high prices. As a result, shares of Intrepid closed their first trading day at $50.40 per share, up sharply from their $32 debut. The Denver-based firm operates potash facilities in New Mexico and Utah and had 2007 sales of $213.5 million.

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