CROPS NEWS
Potash Ridge Gets $20 Million
Wed Nov 28, 2012 02:30 PM CST

TORONTO (Dow Jones) -- Potash Ridge Corp., which is developing a potash mine in Utah, raised $20 million dollars from its initial public offering, about half of the amount originally targeted, according to people familiar with the offering.

The smaller-than-expected issue again highlights the fragility of the Canadian IPO market amid continued global economic uncertainty and equity volatility, and investors' particular concerns over slow demand for commodities.

Last month, Potash Corp. of Saskatchewan (POT), the world's leading potash producer, reported a 22% drop in third-quarter earnings, citing declining sales to China and India. Further, Potash Ridge's IPO comes at a ...

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