Hydro Polymers IPO Expected Soon

Norsk Hydro says it has applied to list Hydro Polymers, the group’s polyvinyl chloride (PVC) subsidiary, on the Oslo Stock Exchange. Norsk Hydro announced plans earlier to divest the business through a sale or an initial public offering (IPO) (CW, Feb. 28, p. 19). Hydro is combining its oil and gas activities with Statoil to create the largest offshore operator, and wants to exit the PVC business by the end of this quarter. Applying for the share listing means that Hydro is more likely to opt for an IPO rather than a sale, sources say. Sources also dismiss...

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