Insuagro Makes It Two

Argentine agrochemicals company Insumos Agroquímicos (Insuagro) will become the second SME to list on the Buenos Aires Stock Exchange, when it floats its stock towards the end of the month. The company kicked off its domestic roadshows in Buenos Aires, and is looking to drum up interest in the sale of 2 million shares in an IPO it hopes will raise 1.5 million pesos ($0.5 million). The shares, which represent 18.8% of Insuagro’s capital, are looking to price between 0.78 and 0.81 pesos and will be placed by local brokers Cordeu y Benedit. Insuagro will be the third company in as many weeks to list on the local stock exchange after six years without any IPOs. It will also be only the second firm to list on the newly launched SME board at the exchange. The offering has been in the pipeline for several months.