French biofuel specialist DEINOVE raises EUR 12 million in IPO
Paris/Montpellier – Deinove SA has raised more than €12 million in an IPO on the Alternext market of NYSE Euronext Paris. In total, the specialist for Deinocuccus bacterial manufacture of fine chemicals allocated 1,448,867 shares at an offer price of EUR8.33. 63% went to institutional shareholders and 37% to individual shareholders.The company announced it will use its deinococcus-based fermentation technology to boost its biofuels programme with with Tereos Internacional for the industrial production of ethanol. Additionally, the company will channel the fresh capital into the development of Deinochem, the company’s programme for green chemistry as well as antibiotics (Deinobiotics) projects.