ETHANOL producer Global Ethanol Holdings plans to list on the stock exchange in a $467.3 million initial public offering.
Up to 101.4 million shares will be offered at $4.60 to $5.80 each.
The company said it expected to have a market capitalisation of $890 million to $1 billion.
Global Ethanol, which lodged its prospectus on Friday and expects to list on August 21, forecasts net profit of $31.6 million for 2006-07 on total revenue of $332.96 million. The Brisbane company said there were attractive growth prospects for the ethanol industry in the US.
In May Global Ethanol announced plans to build a $213.6 million plant in Iowa which would produce 380 million litres of ethanol a year.
The company said it expected the production of ethanol, a clean-burning fuel made from renewable sources, to grow to 30 billion litres a year by 2012 from 17 billion litres a year in the US now.
Interest in alternative fuels has increased due to high petrol prices and Global Ethanol does not expect them to ease.
The company has three years of production under its belt with the Lakota and Riga plants in the US and has outlined possible expansion at both operations.
The IPO is open only to institutions and other sophisticated and professional investors.