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EVGN -Evogene Estimates Some Details of Planned IPO

prospectus + roadshow video presentation...

http://www.retailroadshow.com/roadshows.asp

typo below states 2011 earnings of $645 million... haven't verified but believe it should be $645 thousand.

By Tess Stynes

Evogene Ltd. unveiled some estimated details of its plans to offer 5 million shares in an official public offering, as the agricultural genomics company raises funds for research and development and other purposes.

The Israel-based company said its principal shareholder, Monsanto Co. (MON), has expressed interest in purchasing as much as $12 million of the shares at the IPO price, according to a filing with the U.S. Securities and Exchange Commission. Further estimated terms of the deal weren't provided.

While there is no guarantee that Monsanto, the world's largest seed producer, would acquire shares in the IPO, a purchase of $12 million shares would give the company an estimated stake of 9.4% after Evogene's market debut.

Monsanto has de-emphasized its herbicide business to focus more exclusively on seeds, where it is in heated competion with rival DuPont Co. (DD). For its part, DuPont plans to spin off its performance chemicals business best known for the materials in nonstick frying pans and house paints, to emphasize higher growth businesses such as agriculture.

Evogene aims to boost the traits in seeds to enhance crop performance through biotechnology and advanced breeding methods. The company's products are focused on essential crops, such as corn, soybean, wheat, rice and cotton.

For 2012, Evogene swung to a loss of $2.5 million, compared with year-earlier earnings of $645 million as higher operating costs and significantly weaker margins offset revenue growth of 15% to $17.1 million.

Evogene said its shares have been authorized for listing on the New York Stock Exchange under the symbol EVGN. The company's stock currently is listed on the Tel Aviv Stock Exchange.

Write to Tess Stynes at [e-mail]