Index purchases may gobble up LyondellBasell shares - US analyst

08 October 2010 22:31  [Source: ICIS news]

HOUSTON (ICIS)--LyondellBasell could be listed on several indices, which could trigger millions of share purchases, a US analyst said on Friday.

LyondellBasell expects to be listed on the New York Stock Exchange on 14 October. The company has about 566m outstanding shares, giving it a market capitalisation of roughly $14bn (€10bn).

LyondellBasell could become eligible for the MSCI Index in February, according to a research note by Laurence Alexander, an analyst with Jefferies. The MSCI could represent 10m-12m shares of demand.

LyondellBasell could make the Russell Index in June 2011, he said.

At the end of 2011, LyondellBasell could make the S&P 500, Alexander said. That would represent about 22m shares of demand.

($1 = €0.72)

For more on LyondellBasell visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2645

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly