Adama Agricultural Solutions postpones $400 million IPO

Adama Agricultural Solutions, the world's largest producer of off-patent crop protection chemicals, postponed its IPO on Thursday citing poor market conditions. The Airport City, Israel-based company, which was founded in 1945 and booked $3.2 billion in sales for the 12 months ended September 30, 2014, had planned 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 were set to be the joint bookrunners on the deal.