Croda raises £608m for Iberchem purchase

chemicals_manufacturing_Adobe_575x375_Nov18
By Sam Kerr
18 Nov 2020

Croda, the UK chemicals company, has closed the books on a £608m ($807m) equity raise to help fund the purchase of Iberchem, the Spanish fragrance manufacturer.

HSBC and Morgan Stanley are the bookrunners on the intra-day deal, which consists of a sale of 10.2m new shares, 7.9% of Croda’s share capital.

The bookrunners launched the deal at just after 7am UK time on Wednesday and the book was officially covered within half an hour.

Investors ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial