Skadden Arps Slate Meagher & Flom and Freshfields Bruckhaus Deringer have taken lead roles on the global private placement of shares in German chemicals company Evonik ahead of its multibillion-euro initial public offering (IPO) on the Frankfurt Stock Exchange. Evonik – a cosmetics and food manufacturer – has seen around 12% of its shares placed with institutional investors since 22 February, in what is thought to be Germany's largest-ever pre-IPO capital markets financing. The move comes ahead of Evonik's planned float, which is reportedly set to value the company at around €14bn (£12bn).
March 21, 2013 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Skadden Arps Slate Meagher & Flom and Freshfields Bruckhaus Deringer have taken lead roles on the global private placement of shares in German chemicals company Evonik ahead of its multibillion-euro initial public offering (IPO) on the Frankfurt Stock Exchange.
Evonik – a cosmetics and food manufacturer – has seen around 12% of its shares placed with institutional investors since 22 February, in what is thought to be Germany’s largest-ever pre-IPO capital markets financing.
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