Lanxess to be floated on the stock market

Published: 6-Jan-2005

Bayer has said that it expects to launch the new company Lanxess on the Frankfurt stock exchange on 31 January, 2005.


Bayer has said that it expects to launch the new company Lanxess on the Frankfurt stock exchange on 31 January, 2005.

Trading of shares could begin on the same day.

At the Extraordinary Stockholders' Meeting in November, Bayer stockholders voted by a large majority to place the new chemical company on the stock market by way of a spin-off. Bayer stockholders will be granted one Lanxess share for every 10 Bayer shares they hold on the evening of the day on which the spin-off is entered into the commercial register.

Lanxess is part of Bayer's strategic realignment process, operating as a subgroup of Bayer, and consists of most of the chemicals activities and about one third of the polymers business.

  

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