Adecoagro has raised a total of $314 million in an initial public offering (IPO), Bloomberg reports. The South American food and renewable energy producer, backed by billionaire investor George Soros, sold 28.57 million of shares at $11 per share. The Luxembourg-based company will use the proceeds from the offering to build a sugar and ethanol processing plant in Brazil and to buy farmland. The lead managers for the sale were Credit Suisse, Morgan Stanley and Itau Unibanco.
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