FRANKFURT, Sept 4 (Reuters) - Bayer is guiding investors to expect Covestro shares worth about 2.5 billion euros ($2.8 billion) to be sold in the planned initial public offering, two sources familiar with the matter said.
The listing will likely value Covestro’s equity at more than 10 billion euros, the sources added.
“The exact volume and pricing will depend on market conditions,” one of the sources said.
Bayer’s Covestro, Europe’s fourth-largest chemicals maker, said on Friday that it will launch an IPO in the fourth quarter. ($1 = 0.8980 euros) (Reporting by Arno Schuetze; editing by Thomas Atkins)