22 April 2013 12:01 [Source: ICIS news]
LONDON (ICIS)--Shares in German chemical company Evonik are expected to begin trading on 25 April, according to media reports on Monday.
The company recently stated that it intends to list its shares on stock exchanges in Frankfurt and Luxembourg by the end of April this year. The initial public offering is being handled by Deutsche Bank and investment bank Mainfirst, according to Reuters.
The listing follows the completion of two rounds of private placements with institutional investors in February and March, with a total of 12% of Evonik’s share capital successfully sold. Many of the buyers were German institutions, but Singapore-based sovereign wealth fund Temasek is also believed to be among the buyers.
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