Renewable Energy Group (REGI) emerged from a large group of biofuel companies in the IPO pipeline to be the first deal on the IPO calendar for 2012. The company, which is the largest producer of biodiesel in the United States, plans to raise $101 million by offering 7,200,000 shares at a price range of $13.00 to $15.00. At the mid-point of the proposed range, Renewable Energy Group will command a market value of $401.11 million.
Among typically low- or zero-revenue biofuel companies, the Ames, IA based company is notable for its $627 million in sales for the 12 months ended September 30, 2011. Renewable Energy Group, which was founded in 1996, plans to list on the Nasdaq under the symbol REGI. UBS Investment Bank Piper Jaffray is the lead underwriter on the deal.