Evonik Industries 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 may launch the IPO in 2011 and says it will decide this fall whether to start the share sale by year-end. The company is seeking banks to manage the IPO, which is due to take place no later than July 2012. The process could be halted at any time, however, due to issues such as rising raw material prices, currency...

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