Reuters – Evonik Owners Say to Place More Shares Ahead of Listing

Investment banks Deutsche Bank and Mainfirst are placing up to 2 percent in German chemical company Evonik at a fixed price of 32.20 per share, writes Reuters. The shares will be sold exclusively to institutional investors ahead of a public listing planned for Thursday in a private placement on behalf of the RAG foundation, a public-sector trust that will bear the liabilities of Germany’s wound-down coal mines, and private equity group CVC.

Reuters – Investment banks Deutsche Bank and Mainfirst are placing up to 2 percent in German chemical company Evonik at a fixed price of 32.20 per share, Deutsche Bank said in a statement on Wednesday.

The shares will be sold exclusively to institutional investors ahead of a public listing planned for Thursday in a private placement on behalf of the RAG foundation, a public-sector trust that will bear the liabilities of Germany’s wound-down coal mines, and private equity group CVC.

Earlier this year, RAG and CVC placed a total of 12 percent of Evonik’s shares with investors.