This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AGRO Shares Commence Trading On NYSE

NEW YORK, Jan. 28, 2011 /PRNewswire/ -- Adecoagro S.A., a leading agricultural company in South America, commenced trading its shares on the New York Stock Exchange today under the symbol "AGRO".

In its initial public offering, Adecoagro offered a total of 28,571,428 shares of common stock at a price to the public of $11.00 per share. Including the investment made by the Al Gharrafa Investment Company of 7,377,598 shares, a wholly owned subsidiary of Qatar Holding LLC, the Company is expecting to receive net proceeds of approximately $378 million at closing, which is expected to occur on February 2nd.

Representatives from the firm, which has operations in Argentina, Brazil and Uruguay, participated in the closing bell ceremony at the NYSE, along with shareholders and NYSE executives.

"This is a milestone event in our Company's history. We are very happy for having achieved this important step to continue executing our growth plans. We will continue to seek to create jobs, act in environmentally responsible ways and provide returns for our shareholders", said Mariano Bosch, CEO of Adecoagro.

"We have a great challenge ahead and feel a great sense of responsibility in continuing to promote and develop sustainable production projects in South America. We are proud of being able to showcase the favorable conditions for agribusiness that South America offers in terms of its people, its technological development and its natural resources", Mariano Bosch added.

This achievement is the result of a project that started ten years ago led by a group of Argentine and Brazilian executives. Following 10 years of sustained growth sponsored by a strong shareholder base, including affiliates of Soros Fund Management, LLC; HBK Investments L.P.; Ospraie Management, LLC; Stichting Pensioenfonds Zorg en Welzijn, and Qatar Holdings, LLC; Adecoagro has become a leading agricultural company in South America. Adecoagro's business model is based on: (i) a low-cost production model focused on producing each crop in the most competitive region; (ii) owning land and transforming it to its highest production capabilities; (iii) owning and operating industrial assets to process our production; and (iv) a sustainable production model focused on profitability.

In addition to Bosch, the following Adecoagro officers were also present in today's events at the NYSE: Charlie Boero Hughes (Chief Financial Officer), Emilio Gnecco (Chief Legal Officer), Marcelo Sanchez (Chief Commercial Officer), Mario Jose Imbrosciano (Director of Business Development), Marcelo Vieira (Director of Sugar & Ethanol) and Hernan Walker (Investor Relations Officer).

Credit Suisse Securities ( USA) LLC, Morgan Stanley & Co. Incorporated and Itau BBA USA Securities Inc. acted as global coordinators and joint bookrunners for the offering. Deutsche Bank Securities acted as bookrunner. Banco do Brasil Securities LLC, HSBC Securities ( USA) Inc., Rabo Securities USA, Inc. and Santander Investment Securities Inc. acted as co-managers. The BNY Mellon Shareowner Services division of The Bank of New York Mellon served as the transfer agent. 

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission today.  Any offer or sale will be made solely by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from:  (a) Credit Suisse Securities ( USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 or by calling 1-800-221-1037, (b) Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department or by calling 1-800-584-6837, (c) Itau BBA USA Securities Inc. by calling 1-888-770-4828, or (d) Deutsche Bank Securities at Attention: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311 or by calling 1-800-503-4611.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs