Generic pesticide maker Adama Agricultural Solutions sets terms for $400 million IPO

Adama Agricultural Solutions, the world's largest producer of generic crop protection chemicals, announced terms for its IPO on Monday. The Airport City, Israel-based company plans to raise $400 million by offering 23.5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $2.7 billion.

Adama Agricultural Solutions, which was founded in 1945 and booked $3.2 billion in sales for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol ADAM. Goldman Sachs, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, HSBC Corporation and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of November 17, 2014.