Monsanto IPO to raise $100 million
Pharmacia Corp's wholly-owned agricultural unit, Monsanto, has filed aregistration statement with the Securities and Exchange Commission to raise $100 million in an initial public offering.
The company will list its shares on the New York Stock Exchange, and Pharmacia will continue to own more than 80% of Monsanto's common stock. The underwriters for the offering are Goldman Sachs, Salomon Smith Barney, JP Morgan, Morgan Stanley Dean Witter, Bear Stearns & Co and Merrill Lynch.
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