FRANKFURT Feb 28 German chemicals maker
Evonik will postpone a planned initial public offering
at least through the end of May due to jittery markets, sources
familiar with the situation told Reuters on Tuesday.
"There won't be an IPO before Easter and there won't be one
in May," said one of the sources.
However, a decision on a possible flotation in the summer
could be expected from the end of March, the sources said.
In April, Evonik's majority owner, the RAG foundation, said
it was preparing for a 1 billion euro ($1.34 billion) IPO within
15 months but put the plans on ice in September in view of the
weak financial markets prevailing at that time.
Evonik, the RAG foundation and co-owner CVC
declined to comment.
($1 = 0.7466 euros)
(Reporting by Matthias Inverardi and Alexander Huebner; Writing
by Jonathan Gould)