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Ethanol player Aventine Renewable prices shares at $43

June 29, 2006
AVR

In a sign of strong demand, Aventine Renewable Energy, the fourth largest domestic producer and a leading distributor of ethanol, priced 9.1 million shares at $43. The company originally intended to offer 8.1 million shares at a range of $37-$41. Also, insiders planned to sell 1.6 million shares on the deal. Banc of America, Friedman Billings and Goldman Sachs were the joint bookrunners and expect the stock to begin trading on the NYSE this morning under the symbol "AVR."