Evonik Industries to Launch IPO Before the Summer Break

Engel: Entering planned listing with confidence. Evonik Industries has announced that its owners as well as the company’s executive and supervisory boards have decided to launch Evonik’s long-awaited initial public offering (IPO). The first trading day for Evonik shares is expected “before the summer break.” RAG Foundation (Essen, Germany) is the majority owner of Evonik with a 74.99% stake and private equity firm CVC Capital Partners has 25.01%. The IPO is expected to raise €3.5 billion-€5 billion ($4.4 billion-$6.3 billion)...

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