18 January 2005 17:38 [Source: ICIS news]
LONDON (CNI)--German chemicals and pharmaceuticals group Bayer said Tuesday that the Deutsche Börse has approved its listing memorandum for Lanxess, the chemicals and polymers business planned for public flotation on 31 January.
Bayer said the listing document will be published tomorrow (19 January).Current plans call for the spin-off of Lanxess to be entered in the commercial register for Bayer AG on 28 January, with Lanxess shares subsequently being admitted to trading on the Frankfurt Stock Exchange. On the evening of 28 January the depositary banks will allot the more than 73m Lanxess shares to Bayer stockholders, who for every 10 Bayer shares they hold will receive one Lanxess share in addition.
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