The Euro's Warm Up Act: Ip Os

Stock issues become the hottest way to finance expansions

Cologne-based Interseroh has a dream: to become a kingpin of European trash. Germany's biggest paper and metal recycler, with some $300 million in annual sales, just bought out a French rival. Now, it's raising $70 million in its first public stock issue to finance other acquisitions across the Continent. "With the single currency coming, we see opportunities," declares Andreas Schmidt, a member of Interseroh's board.

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