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Reuters: Shell spin-off Avantium to IPO in Amsterdam

Mon Nov 5, 2007 7:12am GMT 

AMSTERDAM, Nov 5 (Reuters) – Avantium, a spin-off of Royal Dutch Shell (RDSa.L: Quote, Profile, Research), will sell shares on Amsterdam’s stock exchange in an initial public offering of up to 30 million euros ($43.4 million), the company said on Monday.

Avantium, which offers research and development technologies to the energy, chemicals and pharmaceutical sectors, said it plans to raise between 20 million euros and 30 million euros through the issuance of news shares, it said in a statement.

The subscription period for the shares, expected to be sold between 12.50 and 16.00 euros, will last until Nov. 15, with trading due to start on Nov. 16.

Fortis (FOR.BR: Quote, Profile, Research) is the sole global coordinator and bookrunner for the IPO.

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