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Adama Launches Initial Public Offering

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ADAMA Agricultural Solutions Ltd (Adama), the leading off-patent crop protection solutions company in the world, announced the commencement of marketing of the initial public offering ("IPO") of its ordinary shares, which are expected to be listed on the New York Stock Exchange ("NYSE").

Adama plans to offer 23,500,000 ordinary shares and grant the underwriters an option to purchase up to an additional 3,525,000 ordinary shares. Upon completion of the IPO, Adama will have a total of 161,490,881 (or 165,015,881 ordinary shares upon full exercise of the underwriters option). The IPO price currently is expected to be between $16.00 and $18.00 per share and the shares are expected to trade on the NYSE under the symbol “ADAM.”

Adama intends to use the net proceeds from the offering to finance its recently announced acquisition of the China Business from ChemChina, and will use any remaining net proceeds for general corporate purposes.

Goldman, Sachs & Co. and BofA Merrill Lynch are acting as the lead book-running managers for the initial public offering.