In an SEC Filing on Friday evening, a company called Renewable Energy Group, Inc. has decided to come public via an IPO. The stock will have the proposed ticker of "RWE" on NYSE. Credit Suisse and Goldman Sachs are listed as lead underwriters, with Bank of America and Thomas Weisel listed as co-managers. It has filed to sell up to $150 million in securities.
Renewable Energy is what it believes to be the largest operator, marketer and distributor of biodiesel in the U.S. under the SoyPOWER® brand. During 2006, it marketed approximately 78 million gallons of biodiesel, representing what it shows to be approximately 27% of U.S. biodiesel sales. It operates a 132 million gallon network of biodiesel production facilities, currently consisting of one facility owned by the company and four facilities owned by third parties. In addition to the 5 plants in operation, it has 4 more under construction.
Jon C. Ogg
July 16, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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