Bioceres S.A. filed for an initial public offering of American Depositary Shares (ADSs), as the Argentina-based agriculture technology company looks to raise money for general corporate purposes, including the expansion of its agro-industrial biotechnology business and the development of a seed distribution channel. Bioceres has applied to have its stock listed on the NYSE under the symbol “BIOX.” The company said in a regulatory filing that it was proposing to raise up to $80.5 million, but said that amount was used just as a placeholder to calculate a registration fee. Piper Jaffray and Itau BBA are the joint book-running managers of the offering, and Raymond James is co-manager. For the first six months of 2015, losses widened to $2.04 million from $1.47 million in the same period a year ago, while revenue increased to $3.88 million from $2.87 million. The filing comes during a rough time for agricultural companies. The iShares MSCI Global Agriculture Producers ETF slumped 2.1% to a record low in morning trade. It has shed 22% over the past three months, while the S&P 500 has lost 9.2%.
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