Wednesday, June 14, 2006

Ethanol IPO hits market-VeraSun Energy Corp (VSE)

New Ethanol IPO

VeraSun Energy Corp (VSE) : with less than an hour to close is trading at $28.39 , up over $5 and has currently traded over 20,000,000 shares. The company is the second-largest U.S. producer, next to Archer Daniels Midland Co ,producing 230 million gallons of corn-based ethanol a year. The IPO offering of 18,250,000 shares of its common stock at $23 per share was higher than origianally priced. Todays run on this stock helped boost other ethanol stocks in the sector inclduing Green Plains Renewable Energy (GPRE) up over $1 today and Pacific Ethanol Inc (PEIX) up over .70

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