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)

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By: Al Greenwood
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