Investing.com -- Adecoagro SA (NYSE:AGRO) stock fell 13.5% in after-hours trading on Tuesday following the announcement of a public offering of $300 million in common shares.
The Luxembourg-based agricultural company said in a statement that it has commenced the offering, subject to market and other conditions. The company also granted underwriters the right to purchase up to an additional $11.1 million of its common shares, exercisable within 30 days after December 11, 2025.
J.P. Morgan and BofA Securities will serve as global coordinators and joint book-running managers for the offering, while BTG Pactual, Citigroup and Itaú BBA will act as joint book-running managers.
Adecoagro’s controlling shareholder, Tether Investments S.A. de C.V., has indicated interest in purchasing approximately $200 million of the offered shares. Additionally, certain management members and other investors have expressed interest in acquiring around $26 million worth of shares.
The company noted that these indications of interest are not binding agreements, and the underwriters could ultimately sell more, fewer, or no shares to these interested parties.
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