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Besides meat appears to raise up to $ 240 million in the IPO increased


Besides meat, plant-based meat substitute company is preparing to emerge later this week, raised the size and price range of its offer, giving it a $ 1.5 billion potential value.

California group, says Bill Gates among its supporters, said it will sell 9.6m shares at $ 23 to $ 25 per share, rising to $ 240 million in an initial public offering, according to the SEC filing.

The amount of the company now plans to increase by 30 percent higher than its previous estimate of $ 184m, through the offering of 8.75m shares at $ 19- $ 21 a piece, which would give the company an initial market value of $ 1.2 billion.

Some of the biggest, private Silicon Valley technology company publicity. We are a company, his father co WeWork office space provider, disclosed Monday it filed documents for IPO. Uber talking with investors this week ahead of his own list. Lyft and Pinterest have joined the public markets.

Meat for flotation comes as interest as a meat substitute plant-based increases. Many consumers in developed markets prefer to eat less meat or to become a vegan or vegetarian, referring to the problems of environment and health.

And a new generation of products outside the scope of the previous vegetarian dishes, imitating the taste, texture and smell of the meat. Instead sledding vegetables together, For the meat analyzed the molecular structure of the meat and recreated it using amino acids, lipids, vitamins and minerals, extracted from plants.

Meat for a hamburger, which accounts for 70 percent of its profits in the last year, consists mainly of yellow peas and using beet juice to mimic the "bleeding" of the hamburger meat. The company's portfolio also includes herbal substitutes sausage and chicken.

The big question is how long the current consumer interest in the genre will last, said Justin Sherrard, global animal protein strategist at Rabobank. "Or & # 39 is a structural," he said, "or consumers are going to go on to something else?"

Beyond Meat plans to use the proceeds from its IPO to invest in new production facilities and R & D, intensify competition with rival Impossible Foods, which is also a fundraiser to increase production capacity.

It is not possible in conjunction with the Burger King on trial «Impossible hamburger" this month in St. Louis, Missouri, the heart of the country's beef and barbecue. Jose Cil, CEO of Restaurant Brands International, owner of Burger King, told analysts that he is preparing a test launch of the national markets should be at the end of this year.

Besides Meat revenue in 2018 was $ 87.9m, compared to $ 32.6 in 2017. The net loss flat around $ 30 million in both years.

Goldman Sachs, JPMorgan and Credit Suisse with a & # 39 are the leading underwriter of the placement.

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