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Brenntag AG shares perform well on floatation on German stock market

March 29, 2010

Brenntag AG shares have performed well on their debut floatation on the German stock market with shares changing hands at 52.08 euros by 12:30 GMT on the 29/03/2009, 4 percent above their 50 euros issue price and outperforming the STOXX Europe 600 chemicals index .SX4P which was 0.3 percent higher.

Controlled by private equity group BC Partners, Brenntag is the fourth company to float successfully on Germany's stock market in 2010. Brenntag's listing came as the global market for initial public offerings (IPOs) gathers pace after a number of downsizings and postponements. Brenntag, said it had issued its shares at 50 euros apiece to raise a total of 747.5 million euros ($1 billion).

Asked about business in the first quarter, Brenntag Chief Executive Stephen Clark told Reuters: “We have seen demand coming back and have left the recession to some extent.”

About Brenntag Group
Brenntag, the global leader in full-line chemical distribution, recorded global 2008 sales of EUR 7.4 billion (USD 10.8 billion). Today the company operates in excess of 400 locations with more than 11,000 people in over 60 countries. In keeping with the company’s strong position in world markets, Brenntag is committed to providing value to its customers and suppliers through superior supply chain logistics, single sourcing, technical assistance and other value added services. Brenntag offers an extensive and state-of-the-art distribution network for industrial and specialty chemicals to its suppliers and customers alike throughout the world.

Source: Reuters website

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