Croda raises £608m for Iberchem purchase

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 ...

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