US biodiesel firm REG raises USD72m in IPO

Mon Jan 23 2012, 09:25 AM

US biodiesel producer Renewable Energy Group (REG) has raised USD72m through an IPO on the Nasdaq. The Iowa-based firm sold 7.2m shares at USD10 per share, and has given the offering’s underwriters, which include UBS and Piper Jaffray, a 30-day option to buy a further 1m shares. The offer price fell short of the USD13 to USD15 range REG was reported to be aiming for.

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