Arab Today, arab today bayer covestro unit to go public in fourth quarter
Last Updated : GMT 02:34:07
Arab Today, arab today
Arab Today, arab today

Bayer: Covestro unit to go public in Fourth quarter

Arab Today, arab today

Arab Today, arab today Bayer: Covestro unit to go public in Fourth quarter

Bayer plans to float its polymers business Covestro on the stock exchange
Frankfurt - AFP

German chemicals and pharmaceuticals giant Bayer said Friday that it plans to float its polymers business Covestro on the stock exchange in the fourth quarter of this year.

"Bayer has taken the decision to proceed with an Initial Public Offering (IPO) of Covestro, a world-leading polymers company formerly known as Bayer MaterialScience," the company said in a statement.

Covestro would be listed on the regulated market segment of the Frankfurt stock exchange.

The offering would consist solely of new shares issued by Covestro by way of a capital increase, which would be offered publicly in Germany and Luxembourg to private and institutional investors, Bayer explained.

"Subject to capital market conditions, Covestro's IPO is expected to be completed in the fourth quarter of 2015," the statement said.

"We have been evaluating the optimal way for the separation of the MaterialScience business and believe that an IPO delivers clear benefits for both Bayer and Covestro and their stakeholders," said Bayer chief executive Marijn Dekkers.

"This transaction will allow both businesses to pursue their strategic goals."

Covestro would use the proceeds from the IPO primarily to repay intercompany debt to Bayer, the statement added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bayer covestro unit to go public in fourth quarter Arab Today, arab today bayer covestro unit to go public in fourth quarter

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bayer covestro unit to go public in fourth quarter Arab Today, arab today bayer covestro unit to go public in fourth quarter

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday