For the third time since 2008, owners of Evonik Industries are planning to sell shares of the German specialty chemical maker in an initial public offering on the Frankfurt Stock Exchange, this time by the end of June. Owners RAG Foundation and private equity firm CVC Capital Partners have not stated publicly what percentage of the firm they will sell or how much money they intend to raise. Reports from Germany indicate that the two owners plan to sell a 25% stake in Evonik that could raise as much as $5.6 billion. RAG, which owns 75% of Evonik, will offer two-thirds of the shares to be sold, and CVC, which owns 25%, will offer the rest. “Despite the challenging conditions on the financial markets, we are entering the intensive phase of preparations for the planned stock exchange listing with great confidence,” says Evonik Chairman Klaus Engel. Still, RAG warned that ...