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Evonik to list within a month
The owners of Evonik plans to list the shares of the specialty chemicals company on the Frankfurt stock exchange within the next month, in what will likely be one of the largest German share offerings this summer.
Evonik is pressing ahead after earlier in the week signalling it may delay the offering amid Eurozone market turbulence. German media reported yesterday that Evonik’s board has approved the initial public offering and intends to go public on 21 June. Evonik’s owners, the RAG foundation and private equity firm CVC, have said the first trading day is expected to be before the summer break. RAG owns a 75 per cent stake while CVC owns 25 per cent.