Evonik And Taminco Both Go Public

Two chemical companies had initial public offerings of stock last week. Germany’s Evonik Industries began trading on April 25 on the Luxembourg and Frankfurt stock exchanges. Evonik’s two main shareholders, RAG Foundation and CVC Capital Partners, offered about 14% of their combined holdings in the firm. The transaction, which values the company at almost $20 billion, is called Europe’s biggest listing this year. Evonik’s owners tried three times in the past to sell shares to the public. Meanwhile, on April 23, the amines specialist Taminco began trading at $15.00 per share on the New York Stock Exchange. The listing values the company at close to $750 million.