China’s Gushan Environmental’s IPO Already Debuts On NYSE (GU)

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By Douglas A. McIntyre Updated Published
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Some IPO’s make it to market pretty fast in several weeks and some take many months.  The largest Chinese biodiesel producer called Gushan Environmental (NYSE: GU) is already coming to market today.  We just noted its filing on December 4.  This may be one of the fastest IPO’s from the filing date on record.

The company set 18 million shares at $9.60 per share, but this is under the original range of $11.50 to $13.50.  Merrill Lynch was the lead underwriter in the syndicate and co-managers were listed as CIBC World Markets and Piper Jaffray.

The company is profitable and plans to more than double its production by the end of next year.   China & biodiesel… This might make you wonder why its pricing was sub-par.

Jon C. Ogg
December 19, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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