Trash-to-Ethanol Producer Backed by Valero Sets $125 Million IPO
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Enerkem Inc., a closely held Canadian biofuel company backed by Waste Management Inc. and Valero Energy Corp., is seeking to raise $125 million through an initial share sale in the U.S. and Canada.
The company, based in Montreal, is seeking listings on the Toronto Stock Exchange and the Nasdaq Global Market, according to a filing today. It didn’t say how many shares will be offered or at what price.