EVC float expected to raise close to pounds 245m
Tuesday 25 October 1994
Yesterday's pathfinder prospectus said the flotation of EVC, currently a joint venture between ICI of Britain and EniChem of Italy, will raise around pounds 245m and value the company at more than pounds 400m.
ICI and its Italian partner will continue to hold a total of just under 40 per cent of EVC, the fourth-biggest maker of PVC in the world.
ICI and the Italians are each set to receive about pounds 60m from their stake sales. EVC is expected to receive net proceeds of more than pounds 120m. Gearing is expected to come down from 57 to 28 per cent.
Both ICI and EniChem have agreed not to sell any more shares until at least early 1996. The final flotation price will be set on 14 November, and trading is expected to start in Amsterdam and on SEAQ International on 21 November.
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 4 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 5 Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...