People & Business :: People/Executives
AgraQuest Plans 2011 IPO
2:27 PM MDT | May 26, 2010 | Vincent Valk
Biopesticide firm AgraQuest (Davis, CA) is planning to launch an IPO sometime in 2011, CEO Marcus Meadows-Smith told attendees at CW's CFO Conference in New York yesterday. The company is currently engaged in a pre-IPO funding round, largely for growth and working capital, Meadows-Smith adds. It is expecting revenues to total about $30 million for this year, and is cash flow positive. AgraQuest considered M&A, but does not find current multiples attractive, Meadows-Smith says. IPO markets in the U.S. were weak from the second half of 2008 into the first half...
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