Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Covestro Shares Raise $1.7 Billion

by Alex Scott
October 12, 2015 | A version of this story appeared in Volume 93, Issue 40

Bayer has raised about $1.7 billion from its sale of 31% of the shares of Covestro, its plastics business, on the Frankfurt Stock Exchange. The shares were offered on Tuesday, Oct. 6, for about $27 per share. They closed on Thursday at about $29. Covestro’s CEO Patrick Thomas says the firm will pay shareholders a dividend “from the start.” Covestro plans to use most of the proceeds from the share offering to repay debt to Bayer. Bayer continues to own the remaining 69% of Covestro.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.