REG in IPO

Renewable Energy Group (REG) has released 7.2 million shares in an initial public offering to the public for $10 (€7.80) a share.

The shares are to trade on the Nasdaq Global Market from today, under the symbol REGI.

Nearly 7 million of the shares will be offered by REG and the remaining 343,000 shares are being sold by stockholders.

Underwriters have also been granted 30 days in which they can purchase up to 1.08 million shares of common stock to cover any over-allotments they may have.

UBS Securities and Piper Jaffray & Co are acting as joint book-running managers for the offering. Stifel, Nicolaus & Co and Canaccord Genuity are acting as co-managers.

REG is based in North America and is a biodiesel manufacturer and marketer that focuses on converting natural fats, oil and grease into advanced biofuels.