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Saturday, March 31, 2012

enerkem inc ipo shares price, stock symbol

enerkem inc ipo shares price, enerkem stock symbol : Enerkem Inc said it expects to sell 7.25 million shares at $17 to $19 apiece in an initial public offering of its common shares.

The company, which develops renewable biofuels and chemicals from waste, uses municipal solid waste as feedstock to produce biofuel.

In a regulatory filing, the Quebec-based company said it will use proceeds for the offering for research, capital requirements and to construct and develop facilities.

Enerkem recorded a net loss of C$26.2 million ($26.43 million) for the year ended December 31, 2011, according to the filing.

Last month, the company had filed with the U.S. Securities & Exchange Commission for an IPO of up to $125 million.

Enerkem added Robert W. Baird, Canaccord Genuity and CIBC to its list of underwriters. It had earlier named Goldman Sachs, Credit Suisse and BMO Capital Markets as lead underwriters for the IPO.

The company said it has applied to list shares on the Nasdaq under the symbol "NRKM" and on the Toronto Stock Exchange under the symbol "NKM."

Enerkem counts Waste Management of Canada Corp, a unit of Waste Management Inc, and venture capital firms Rho Ventures and Braemar Energy Ventures as its major shareholders.For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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