Israel-based agricultural genomics company Evogene Ltd. is currently listed on the Tel Aviv Stock Exchange but its shares have been authorized for listing on the New York Stock Exchange and the company is planning a 5 million-share IPO. The funds raised will be used for research and developments and other undisclosed purposes. Evogene has states that its principle stockholder Monsanto Co. has expressed intent to purchase $12 million worth of shares at the IPO price which would give Monsanto an estimated stake of 9.4% in Evogene after the market debut. Evogene focuses on boosting traits in seeds of essential crops such as corn, soybeans, wheat, rice and cotton. Monsanto has shifted its focus away from its herbicide business towards seeds where it is in strong competition with DuPont which plans to spin off its chemical business to place focus on its higher- growth agricultural business.
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