Elevance Withdraws Bid to Go Public

Elevance Renewable Sciences (Woodbridge, IL) says it has withdrawn its filing for an initial public offering (IPO) because of poor equity market conditions and the addition of $104 million in Series E financing, announced in July. Elevance filed for an IPO worth up to $100 million in September 2011. Elevance, spun out of Cargill in 2007, produces biobased olefins, including a reportedly unique distribution of alpha- and internal olefins for chemicals and advanced fuels; multifunctional esters and acids, including 9-decenoic acid; and a mixture of oleochemicals...

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