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Evonik owners to go head with IPO preparations

May 22/2012

(Reuters) - German chemicals and real estate conglomerate Evonik may have to reconsider the timing of a possible initial public offering (IPO), its majority owner said on Monday.

The RAG Foundation, which has never officially committed to a timetable for floating Evonik, cautioned it would monitor possible risks to an IPO. But it said it continues to support the idea of flotation.

Sources have said the RAG Foundation, which owns 75 percent of Evonik, would publish an intention to float on Friday if it decides to go ahead with an IPO. The shares could then be listed on June 25.
Author:Anna Larionova
Tags:car components, Medicine, soft compounds, Evonik.
Category:General News
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