Renaissance Capital logo

Ethanol producer VeraSun increases range to $21-22

June 9, 2006
VSE

VeraSun, the second largest ethanol producer in the U.S., revised its IPO terms on Friday. In a sign of strong demand, the Brookings, South Dakota based company increased the number of shares it plans to sell from 17.25 mm to 18.25 mm and increased the range from $18-20 to $21-22 for a new proposed market cap of $1.7 billion. Lead underwriters Morgan Stanley and Lehman Brothers have slated the deal to price on Tuesday 6/13.