Evonik Ready to Float IPO When Conditions Improve

Evonik Industries is waiting for the capital markets to become less volatile before it goes ahead with its previously announced initial public offering (IPO) of shares, KIaus Engel, CEO told CW on the sidelines of the recent Cefic General Assembly meeting in Madrid. Evonik plans to float about 30%-40% of the company on the Frankfurt Stock Exchange, he says. The owners of Evonik announced earlier this month that they would postpone a planned IPO until at least 2012, citing uncertainty in financial markets. “The current instability dominating our financial...

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