Germany’s AlzChem Postpones IPO
German chemical producer AlzChem has decided to postpone its planned initial public offering (ipo), blaming political issues for causing persistent uncertainty for new investments. Trading of AlzChem’s shares was originally planned to start on the Frankfurt Stock Exchange on Feb. 10.
The Bavarian company, which manufactures products based on the nitrogen-carbon-nitrogen (NCN) chain, was planning to raise between €40 million and €50 million from the IPO, with most of the proceeds to be invested in a new specialty chemical plant at its base in Trostberg. AlzChem said it will now make use of alternative financing possibilities to fund further growth and will re-evaluate an IPO at a later date.
Formerly part of Evonik before being sold to an investment fund in 2009, AlzChem has a leading position in selected niche markets, including feed additives and food supplements. It has four production sites in Germany, a carbide plant in Sweden, as well as subsidiaries in the US and China, employing nearly 1,500 people altogether.
