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Corrected: Enerkem Inc files for IPO of upto $125 million
March 20, 2012 / 3:42 PM / 5 years ago

Corrected: Enerkem Inc files for IPO of upto $125 million

(Reuters) - Enerkem Inc, which develops renewable biofuels and chemicals from waste, filed with regulators on Friday to raise up to $125 million in an initial public offering of common shares.

The Canadian company said it has applied to list its shares on the Nasdaq under the symbol “NRKM,” and on the Toronto Stock Exchange under “NKM.”

Enerkem named Goldman Sachs, Credit Suisse and BMO Capital Markets as underwriters for the IPO.

The filing did not reveal the number of shares the company planned to sell, or their expected price.

Enerkem counts Waste Management of Canada Corp -- a unit of Waste Management Inc (WM.N), and venture capital firms Rho Ventures and Braemar Energy Ventures as its major shareholders.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.

(The story from Feb 3 is corrected to fix spelling of Braemar Energy Ventures in paragraph 5)

Reporting by Brenton Cordeiro in Bangalore; Editing by Viraj Nair

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