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Covestro AG (1COV.DE)

1COV.DE on Xetra

46.75EUR
30 Nov 2020
Change (% chg)

€-0.70 (-1.48%)
Prev Close
€47.45
Open
€47.40
Day's High
€47.66
Day's Low
€46.75
Volume
1,361,381
Avg. Vol
1,245,000
52-wk High
€48.82
52-wk Low
€23.54

Latest Key Developments (Source: Significant Developments)

Covestro Collaborates With Circularise, Porsche, Borealis And Domo Chemicals
Tuesday, 3 Nov 2020 

Nov 3 (Reuters) - COVESTRO AG <1COV.DE>::CIRCULARISE AND PORSCHE COLLABORATE WITH BOREALIS, COVESTRO AND DOMO CHEMICALS TO ENABLE TRACEABILITY OF PLASTICS IN AUTOMOTIVE SECTOR.  Full Article

Covestro AG Covestro Determines Placement Price For The New Shares
Wednesday, 14 Oct 2020 

Oct 13 (Reuters) - Covestro AG <1COV.DE>::DGAP-ADHOC: COVESTRO AG: COVESTRO DETERMINES THE PLACEMENT PRICE FOR THE NEW SHARES.SHARES WERE PLACED AT A PLACEMENT PRICE OF EUR 43.85 PER SHARE RESULTING IN GROSS PROCEEDS OF EUR 447 MILLION.COVESTRO-DECIDED TO RAISE SHARE CAPITAL THROUGH PARTIAL UTILIZATION OF ITS AUTHORIZED CAPITAL UNDER EXCLUSION OF SHAREHOLDERS' SUBSCRIPTION RIGHTS.  Full Article

Covestro Launches Capital Increase For About EUR 450 Million
Tuesday, 13 Oct 2020 

Oct 13 (Reuters) - COVESTRO AG <1COV.DE>::LAUNCHES CAPITAL INCREASE WITH EXCLUSION OF SHAREHOLDERS' SUBSCRIPTION RIGHTS THROUGH ACCELERATED BOOKBUILDING.TARGETS GROSS PROCEEDS OF APPROXIMATELY EUR 450 MILLION. NEW SHARES WILL CARRY DIVIDEND RIGHTS FOR FISCAL YEAR 2020.SHARE CAPITAL OF COVESTRO WILL BE INCREASED BY APPROXIMATELY 6 % BY ISSUING NEW NO-PAR VALUE ORDINARY BEARER SHARES AGAINST CASH CONTRIBUTIONS UNDER EXCLUSION OF SHAREHOLDERS' SUBSCRIPTION RIGHTS.NEW SHARES WILL BE OFFERED FOR PURCHASE EXCLUSIVELY TO INSTITUTIONAL INVESTORS IN A PRIVATE PLACEMENT BY WAY OF AN ACCELERATED BOOKBUILDING PROCESS.PRIVATE PLACEMENT WILL BE INITIATED IMMEDIATELY AFTER THIS NOTIFICATION.BOARD OF MANAGEMENT WILL DETERMINE AND THEREAFTER ANNOUNCE PLACEMENT PRICE AND FINAL GROSS PROCEEDS FOLLOWING CONCLUSION OF ACCELERATED BOOKBUILDING PROCESS.EXPECTED NET PROCEEDS FROM CAPITAL INCREASE SHALL BE USED TO PARTIALLY RE-FINANCE PURCHASE PRICE FOR PLANNED ACQUISITION OF RESINS & FUNCTIONAL MATERIALS BUSINESS (RFM) FROM ROYAL DSM.  Full Article

DSM Announces Sale Of Resins & Functional Materials Businesses To Covestro
Wednesday, 30 Sep 2020 

Sept 30 (Reuters) - Koninklijke DSM NV ::DSM ANNOUNCES SALE OF RESINS & FUNCTIONAL MATERIALS BUSINESSES.TRANSACTION WILL INCLUDE ALL OF DSM'S RESINS & FUNCTIONAL MATERIALS BUSINESSES, INCLUDING DSM NIAGA®, DSM ADDITIVE MANUFACTURING AND COATINGS ACTIVITIES OF DSM ADVANCED SOLAR.AN AGREEMENT TO SELL ITS RESINS & FUNCTIONAL MATERIALS AND ASSOCIATED BUSINESSES TO COVESTRO AG FOR AN EQUITY VALUE OF EUR 1.6 BILLION.COMPLETION OF TRANSACTION, WHICH IS SUBJECT TO CUSTOMARY CONDITIONS AND APPROVALS, IS EXPECTED IN H1, 2021.EXPECTS TO RECEIVE AROUND EUR 1.4 BILLION NET IN CASH FOLLOWING CLOSING, INCLUDING REPAYMENT OF RFM'S NET DEBT, AND AFTER TRANSACTION COSTS AND CAPITAL GAINS TAX.WILL PROVIDE RE-STATED FIGURES FOR ITS MATERIALS CLUSTER AHEAD OF ITS Q3 RESULTS.ANTICIPATES A BOOK PROFIT ON TRANSACTION TO BE RECOGNIZED UPON CLOSING.  Full Article

Covestro Q2 Net Result Swings To Loss Of EUR 52 Million
Thursday, 23 Jul 2020 

July 23 (Reuters) - Covestro AG <1COV.DE>::Q2 GROUP SALES TOTAL APPROXIMATELY EUR 2.2 BILLION (-32.9%).Q2 NET INCOME OF EUR -52 MILLION.Q2 EBITDA OF EUR 125 MILLION.CONFIRMED FULL-YEAR GUIDANCE IT HAD REVISED IN APRIL..  Full Article

Covestro Preliminary Net Loss At About EUR 60 Million
Thursday, 9 Jul 2020 

July 9 (Reuters) - COVESTRO AG <1COV.DE>::PRELIMINARY EBITDA OF EUR 124 MILLION IN Q2 2020 IS ABOVE MARKET EXPECTATION.PRELIMINARY SALES AMOUNT TO EUR 2,156 MILLION IN Q2'20. CONSENSUS EXPECTS THIS NUMBER TO BE EUR 2,223 MILLION.PRELIMINARY VOLUME EFFECT IN SALES AMOUNTS TO -22% IN Q2'20. CONSENSUS EXPECTS THIS NUMBER TO BE -22.5%.PRELIMINARY EBITDA AMOUNTS TO EUR 124 MILLION IN Q2'20. CONSENSUS EXPECTS THIS NUMBER TO BE EUR 80 MILLION.PRELIMINARY NET INCOME AMOUNTS TO AROUND EUR -60 MILLION IN Q2'20. CONSENSUS EXPECTS THIS NUMBER TO BE EUR -107 MILLION.  Full Article

Neste Establishes Strategic Cooperation With Covestro
Wednesday, 27 May 2020 

May 27 (Reuters) - Neste Oyj ::CO AND COVESTRO JOIN FORCES - RENEWABLE RAW MATERIALS FOR PLASTICS PRODUCTION.IN FUTURE, BOTH COMPANIES INTEND TO EXPAND SCOPE OF THEIR PARTNERSHIP, ALSO WITH REGARD TO OTHER TYPES OF POLYMERS.IN FUTURE, BOTH COMPANIES INTEND TO EXPAND SCOPE OF THEIR PARTNERSHIP, ALSO WITH REGARD TO OTHER TYPES OF POLYMERS.STRATEGIC COOPERATION IN EUROPE TO PROMOTE USE OF SUSTAINABLE RAW MATERIALS IN PLASTICS PRODUCTION.  Full Article

Covestro Proposes Dividend Of EUR 1.20 Per Share For 2019
Tuesday, 19 May 2020 

May 19 (Reuters) - Covestro AG <1COV.DE>::PROPOSES A DIVIDEND OF EUR 1.20 PER SHARE FOR FISCAL 2019.PROPOSES A DIVIDEND OF EUR 1.20 PER SHARE FOR FISCAL 2019.BOARD OF MANAGEMENT EXPECTS SIGNIFICANTLY LOWER EARNINGS IN FISCAL 2020, AS DETAILED IN Q1 2020 INTERIM STATEMENT.  Full Article

Covestro And Teknor Apex Announce A Cooperation Agreement On Compounding TPU
Wednesday, 6 May 2020 

May 6 (Reuters) - COVESTRO AG <1COV.DE>::COVESTRO AND TEKNOR APEX ANNOUNCE A COOPERATION AGREEMENT ON COMPOUNDING TPU.  Full Article

Covestro currently not planning to apply for state aid -CFO
Wednesday, 29 Apr 2020 

April 29 (Reuters) - Covestro AG <1COV.DE>::COVESTRO CFO SAYS IS CURRENTLY NOT PLANNING TO APPLY FOR STATE AID.  Full Article

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Covestro buys DSM's resins unit for 1.6 billion euros

FRANKFURT Germany's Covestro will buy Dutch peer DSM's Resins and Functional Materials business for about 1.6 billion euros ($1.88 billion), banking on a rebound of a global economy depressed by the coronavirus pandemic.