Evonik to Float 30%-40% of Company When Time is Right

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. “We have had overwhelmingly positive feedback from a lot of cornerstone investors around the world,” Engel says. However, today’s market conditions would “hardly reflect the true value...

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