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Municipal waste converter Enerkem withdraws $131 million IPO

By Renaissance Capital,  April 26, 2012, 05:05:57 PM EDT

Enerkem, which has developed a process that converts municipal waste into cellulosic ethanol, withdrew its plans for an initial public offering on Thursday, citing poor market conditions. The Montreal, Canada-based company was founded in 2000 and booked $3 million in sales for the 12 months ended 12/31/2011. Goldman Sachs, Credit Suisse and BMO Capital Markets were set to be the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, IPOs

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