Amyris stock climbs on IPO debut (San Francisco)
Amyris Inc. became a public company on Tuesday, selling about 5.3 million of its shares at $16 each.
The Emeryville chemical company (NASDAQ: AMRS) had once hoped to raise as much as $100 million in an IPO by selling shares at up to $20 a pop. But it backed down from those prices, raising about $85 million today.
The stock rose after hitting the market, climbing as high as $17.44 per share before closing at $16.50.
Amyris uses biotechnology to make ethanol and industrial chemicals from sugar and other raw products.
From the San Francisco Business Times.
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