Reuters: Private Equity: Evonik owners IPO may fall apart if price too low -sources

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Evonik owners IPO may fall apart if price too low -sources May 15th 2012, 15:19 FRANKFURT | Tue May 15, 2012 11:19am EDT FRANKFURT May 15 (Reuters) - The majority owner of Evonik will not make a final decision on the planned second-quarter listing of German industrial conglomerate on May 21, people close to the transaction said on Tuesday. The RAG Foundation, which owns a 75 percent stake, is however likely to decide to publish an intention to float on May 25, the sources said, adding the final 'go' for the IPO will be given when a price range is fixed and the volume of possible proceeds will become clear. Evonik shares could be listed on June 25, the sources said. The RAG foundation declined to comment. (Reporting by Matthias Inverardi and Arno Schuetze)

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