September 9, 2011 / 4:31 PM / 8 years ago

Evonik postpones IPO until spring 2012 - sources

FRANKFURT, Sept 9 (Reuters) - Unlisted German chemicals maker Evonik has put back its initial public offering (IPO) to next spring from this year, people familiar with the matter said on Friday.

Through focusing on its core chemicals business, Evonik hopes to bolster itself for an IPO on the stock market.

The chemical company recently sold a majority stake in its power generation unit and struck an agreement over the sale of its carbon black business to focus on specialty chemicals.

In April, RAG foundation said Evonik was preparing for a 1 billion euro ($1.37 billion) flotation within 15 months.

$1 = 0.729 Euros Reporting By Alexander Huebner and Matthias Inverardi; writing by Edward Taylor, editing by Maria Sheahan and David Hulmes

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