April 23, 2024

Brighton Journal

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A company controlled by an Argentine group is already valued at more than US$1 billion

A company controlled by an Argentine group is already valued at more than US$1 billion

A company is in control The Bioceres Group, of Argentine origin, The new unicorn has surpassed a market cap of more than US$1 billion.

About basic science, Up 266% at one point today [finalizó con más de un 98%] in New York (Nasdaq: Ljaq). Bioceres is the majority shareholder with around 40% according to market sources.

A strong recovery came after the Light Jump shareholder meeting [Ljaq]It’s a gap [Special Purpose Acquisition Company]A so-called vehicle to list on the stock market and raise money will approve the merger with the Argentine company, in which Grupo Bioceres is the majority shareholder.

“The company has reached a market capitalization of more than USD 1 billion” Sources said the media was consulted after a hectic day.

In March 2021, the activities of Bioceres, an Argentinian group dedicated to providing solutions for agriculture, They gained 66% in several hours of the day on the New York Stock Exchange.A UK-based Ag-Foodtech company that uses plant and cell technologies to produce animal-free food.

At that time, the estimate of the global market for replacement proteins such as Molek was around US$14.95 billion in 2019. The forecast indicated further growth till 2025.

Gaston Paladini, CEO of Mulek

In addition to being the majority shareholder, Bioceres is also a shareholder in Moolec through Crop Solutions, which owns 5.7% of Moolec. Moolec is expected to be listed under the ticker Mlec from the first days of January, as the medium has learned. Moolec’s CEO is Argentinian Gaston Paladini. Meanwhile, Federico Trucco is the CEO of Bioceres.

Bioceres is part of the Bioceres Crop Solutions (Biox) group, in which Argentine capital participates. It was created by 50% Bioceres, where around 300 agricultural producers and recognized businessmen such as Hugo Sigman and Gustavo Grobocopatel gather. The other 50% is in the hands of the market.

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A few months ago, the group acquired a bio-nutrition and seed care product company for agriculture in the US for USD 243 million. It’s about the company Brown Bio Innovations, From Davis, California. Bioceres is an Argentina-born developer of products such as wheat and drought-tolerant soybeans.


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