TEL AVIV, Israel, November 20, 2014 /PRNewswire/ --
ADAMA Agricultural Solutions Ltd ("Adama"), the leading off-patent crop protection solutions company in the world, today announced that, as a result of adverse equity market conditions, it has ceased marketing of its proposed initial public offering of its ordinary shares, which had been expected to be listed on the New York Stock Exchange. The Company will evaluate the timing for the proposed offering as market conditions develop.
The Company will continue to drive its strong business momentum and work towards the closing of the recently announced acquisition of the Chinese Businesses from ChemChina, subject to obtaining the required approvals and fulfillment of other conditions to closing.
ADAMA Agricultural Solutions Ltd. is the leading off-patent crop protection solutions company in the world. The Company's comprehensive range of high-quality, differentiated and effective herbicides, insecticides and fungicides, help farmers worldwide to increase yields by preventing or controlling weeds, insects and disease that harm their crops. With one of the world's most extensive and diversified off-patent product portfolios, Adama sells its products in more than 120 countries, with revenues of over $3 billion in 2013. Adama's purpose is "Creating Simplicity in Agriculture" - striving to provide farmers accessible, easy-to-use solutions that simplify their lives and improve their crop yields. For more information, visit us at http://www.adama.com.
Global Public Relations Manager
SOURCE ADAMA Agricultural Solutions Ltd