February 28, 2020 / 11:02 AM / a month ago

BASF picks Frankfurt for potential Wintershall Dea IPO in H2

FRANKFURT, Feb 28 (Reuters) - BASF will choose the Frankfurt stock exchange for a planned listing of oil and gas business Wintershall Dea during the second half of the year, finance chief Hans-Ulrich Engel told a news conference on Friday.

The German chemicals giant earlier on Friday said that it and co-owner LetterOne are preparing Wintershall Dea for an initial public offering (IPO) in the second half of 2020 but market sentiment would have to be suitable.

“We will be ready. And then we will have a look at market conditions,” Engel said.

Reporting by Ludwig Burger; editing by Thomas Seythal

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