April 10, 2013 / 10:31 AM / 5 years ago

Evonik owners say to place more shares ahead of listing

FRANKFURT, April 10 (Reuters) - The owners of Evonik said they would sell up to an additional two percent of shares in the German speciality chemical company to institutional investors ahead of a planned listing in Frankfurt and Luxembourg.

Evonik’s two main owners, the state-controlled RAG trust and buyout firm CVC, cited high demand in two pre-flotation private placings as the reason for offering more shares.

They added they were still preparing to list the group at the end of April with the help of Mainfirst and Deutsche Bank .

Reuters had earlier reported the plans.

Earlier this year, RAG, a public-sector trust that will bear the liabilities of Germany’s wound-down coal mines, and CVC, which came on board as a minority investor in Evonik in 2008, placed a total of 12 percent of Evonik’s shares with investors like Singapore state investor Temasek.

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