Evonik advances stock exchange move, targets listing by end of April

10 April 2013 16:42  [Source: ICIS news]

LONDON (ICIS)--Evonik is further advancing its planned stock exchange listing, targeting to list the shares on the Frankfurt and Luxembourg exchanges by the end of April, the Germany-based specialty chemicals major said in on Wednesday.

In a joint statement with owners RAG-Stiftung and private equity firm CVC Capital, Evonik added that two banks have been mandated to advise on the planned listing.

The move comes after RAG and CVC successfully completed two rounds of private placements in February and March, totalling about 12% of Evonik’s share capital.

RAG and CVC are willing – favourable capital markets conditions provided – to offer additional shares of up to about 2% of Evonik’s share capital to institutional investors, they added.

By: Stefan Baumgarten
+1 713 525 2653

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