AGT Food and Ingredients stock drops 7.6% on debut after $450-million IPO

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AGT Food and Ingredients stock fell 7.6% on its first day of trading after raising $450-million in an IPO. The agrifood company's shares closed at $21.25, down from its $23 issue price, which was already reduced from an initial range. The IPO launched amid global market declines and geopolitical instability. AGT, majority-owned by Fairfax Financial Holdings, plans to use the proceeds to reduce its significant long-term debt. The company operates 39 facilities globally and sells products to 127 countries.


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AGT Food and Ingredients stock drops 7.6% on debut after $450-million IPO | News Minimalist