A Bit Of Fertilizer For The IPO Market

April 2008 | IPO Analysis

It has been a bleak year so far for IPOs - so bleak, in fact, that it has taken a fertilizer company to provide some fuel to the fire. Investors seeking to take advantage of the ongoing global agribusiness boom flocked to their brokers on April 22 for the initial public offering of Intrepid Potash. The Colorado-based company, which produces 1.5% of the world's potash, a crucial ingredient in fertilizer, IPOed 30mn shares at US$32/share, well above the expected range of US$27-29. Including that premium, Intrepid raised US$960mn, of which US$757mn will be used to acquire predecessor company Intrepid Mining

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