Up to date news on the global chemical distribution industry
March 12, 2012
DKSH is to make an initial public offering that could raise €750M ($980M) for its shareholders and make it the first major European IPO since mid-2011. The Swiss firm, which has a strong focus on the developing Asia-Pacific region, said it was offering its shares at between 42 and 48 Swiss francs each, valuing the company at between 2.2Bn and 2.5Bn Euros.
In 2011, DKSH's net Sales reached around €6Bn while operating profit (EBIT) grew by 21.7%. The Group is organised into 4 Business Units: Consumer Goods , Healthcare, Performance Materials and Technology. Its Performance Materials BU is a significant global chemical distributor with net sales of €580M in 2011, 2/3 of which originates from the Asia-Pacific region.
DKSH's public offering would be the first sizeable listing on the Swiss bourse since airline catering firm Gategroup in May 2009. Book building will take place between March 8 and March 20 and DKSH expects its shares to start trading on the SIX Swiss exchange on March 21, 2012. A parallel listing in either Hong Kong or Singapore could be an attractive opportunity, but the company has no plans to do so at present, Chief Executive Joerg Wolle said.
DKSH traces its roots back to the 1860s when three Swiss entrepreneurs sailed to Asia and built a reputation as reliable business partners. In 2000, the Diethelm and Keller groups joined forces before coming together with Siber Hegner to form DKSH two years later. The company now operates in 35 countries in the region and is No. 1 in its sector in Asia, according to a study by Roland Berger Strategy Consultants. Majority shareholder Diethelm Keller Holding, which owns around 63 percent of DKSH, will remain the major shareholder with a post-IPO stake of at around 46%, the company said.
About DKSH Performance Materials
DKSH's Performance Materials BU is a leading specialty chemicals distributor with a stronhg focus on Asia-Pacific. The Group supplies specialty chemicals and food ingredients from 69 locations in 24 countries and has over 1,000 specialised staff. In 2011 the Performance Materials BU generated sales of around CHF 695 million out of total sales of CHF 7.3 billion for DKSH as a whole.
Source: Own Sources
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