Bayer's Covestro May Postpone IPO After VW Scandal

Published: Oct 02, 2015

Germany's two biggest IPO candidates have been forced to reconsider the size of their listing plans as Volkswagen's emissions scandal has scared off investors and equity markets continue to wobble.

Bayer's plastics business unit Covestro cut the size of its planned share sale on Thursday to 1.5 billion euros ($1.7 bln), from 2.5 bln, and postponed the market debut from Friday to Tuesday.

Ball bearings maker Schaeffler is also considering scaling down its initial public offering, sources familiar with the issue said, and delayed the issue from Monday by at least a few days.

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