BioAmber Inc., a renewable chemical company backed by NAXOS Capital Partners, Mitsui & Co. Venture Partners and Sofinnova Partners, has filed to raise up to $150 million in an initial public offering. The company posted a loss of $10.8 million in the first half of 2011, Reuters reported Monday.
(Reuters) – Chemicals company BioAmber Inc filed with U.S. regulators to raise up to $150 million in an initial public offering of common shares.
The filing did not specify the exchange the company plans to list its shares on, but said it intended to trade under the symbol “BIOA.”
BioAmber, which produces bio-succinic acid, said the lead book-running managers for the offering are Goldman, Sachs & Co and Credit Suisse Securities (USA) LLC.
The company plans to use a part of the proceeds from the offering to complete the construction of its facilities at Ontario and Thailand.
BioAmber posted a loss of $10.8 million in the first half of 2011.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Maju Samuel)