(Sioux Falls, S.D.)– Ethanol producer Verasun Energy wants to more than double the amount of money it had proposed to raise in an initial public offering.
The South Dakota-based company filed updated I-P-O documents with the Securities and Exchange Commission Tuesday.
Verasun expects to offer just over 17 million shares at a price of between 18- and 20-dollars apiece. That will raise about 328 million dollars for the company.
Verasun operates ethanol plants near Fort Dodge and is building one in Charles City.
The company says it will use proceeds from the stock sale and other cash to build two more plants–one in northwest Iowa and another near Welcome, Minnesota.
The company plans to trade on the New York Stock Exchange under the symbol V-S-E.
(Story from the Associated Press.).
