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4-Traders Homepage  >  Equities  >  Xetra  >  Covestro    1COV   DE0006062144

COVESTRO (1COV)
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Real-time Quote. Real-time Tradegate - 11/21 04:46:16 pm
84.535 EUR   +2.75%
11/20 COVESTRO AG : Release of a capital market information
11/13 COVESTRO, KRAUS : Major advancement in pultrusion
11/10 A VERSATILE CLA : 80 years of polyurethane
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Bayer sells 9.4 percent stake in Covestro for 1.2 billion euros

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09/13/2017 | 08:24am CET
The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal

German drugs and pesticides group Bayer (>> Bayer) has further reduced its holding in Covestro (>> Covestro) to 31.5 percent from 40.9 percent by selling 19 million shares in the plastics business for a total of 1.2 billion euros. (1.08 billion pounds)

German drugs and pesticides group Bayer (>> Bayer) has further reduced its holding in Covestro (>> Covestro) to 31.5 percent from 40.9 percent by selling 19 million shares in the plastics business for a total of 1.2 billion euros. (1.08 billion pounds)

It said on Wednesday that it placed the stock at 63.25 euros each, a 3.7 percent discount to Tuesday's closing share price, which DZ Bank analyst Peter Spengler said indicated healthy demand for the stock.

Bayer, which is trying to wrap up the $66 billion takeover of U.S. seeds giant Monsanto (>> Monsanto) by the end of the year, had announced the accelerated bookbuilding late on Tuesday, part of its plan to fully sever ties with Covestro over the medium-term.

It has agreed to hold off for 90 days on placing more shares in Covestro, which it spun off as a listed company two years ago. Bayer's pension trust separately holds 8.9 percent of Covestro.

Barclays (>> Barclays) and Citigroup (>> Citigroup) acted as joint bookrunners for the placement, which was aimed at institutional investors.

(Reporting by Maria Sheahan; Editing by Amrutha Gayathri)

Stocks treated in this article : Citigroup, Monsanto, Bayer, Barclays, Covestro
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Latest news on COVESTRO
11/20 COVESTRO AG : Release of a capital market information
11/16 COVESTRO : "Moisture-Curing Polyether Carbonate Containing Alkoxysilyl Groups" i..
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11/10 A VERSATILE CLASS OF PLASTICS CELEBR : 80 years of polyurethane
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Financials (€)
Sales 2017 13 961 M
EBIT 2017 2 486 M
Net income 2017 1 572 M
Debt 2017 845 M
Yield 2017 2,54%
P/E ratio 2017 10,37
P/E ratio 2018 11,81
EV / Sales 2017 1,25x
EV / Sales 2018 1,23x
Capitalization 16 660 M
Chart COVESTRO
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Covestro Technical Analysis Chart | 1COV | DE0006062144 | 4-Traders
Technical analysis trends COVESTRO
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 86,2 €
Spread / Average Target 4,8%
EPS Revisions
Managers
NameTitle
Patrick Webster Thomas Chief Executive & Financial Officer
Richard Pott Chairman-Supervisory Board
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
Thomas Fischer Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
COVESTRO24.79%19 559
LG CHEM LTD--.--%26 364
FORMOSA PLASTICS CORPORATION--.--%19 615
FORMOSA CHEMICALS & FIBRE CORPORATION--.--%18 314
LOTTE CHEMICAL CORP--.--%11 081
HENGYI PETROCHEMICAL CO LTD--.--%4 213