Evonik IPO Planned within 15 Months

RAG Foundation (Essen, Germany), the majority shareholder in Evonik Industries, says it has revived plans to launch an initial public offering (IPO) for Evonik. The IPO is due to take place within 15 months, RAG Foundation says. RAG Foundation is seeking banks to manage the IPO and it will decide this fall whether to launch the IPO by year-end. The process could be halted at any time, however, due to issues such as rising raw material prices, currency volatility, or the effects of the earthquake and tsunami in Japan, RAG Foundation says. Further details were not...

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