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BioFuel Energy Makes Market Debut
By Mr Ethanol | June 15, 2007
BizJournals:
Shares of BioFuel Energy, a Denver-based ethanol refiner, edged upward about mid-afternoon Thursday after dipping below its opening price of $10.50 in the company’s initial public offering.
The company had trimmed both the price of the IPO and the number of shares put up for bid two times in the days preceding Thursday’s IPO.
Trading at NASDAQ symbol BIOF, the company started Thursday at $10.50 and ranged from a low of $10.05 to a high of $11.50 during opening hours.
About mid-day, the share price had climbed to $10.64 per share.
BioFuel initially priced the shares at between $16 and $18 when it announced the IPO in December. This week the company trimmed the price to $13 to $14 per share and again to $10.50 per share the day before the public offering.
Topics: Biofuel, Industry, Market, News |
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