Welcome to the RAG Foundation!
The RAG Foundation, which was founded in 2007, is ensuring that the RAG Corporation can discontinue subsidized coal mining in a socially acceptable manner by the end of 2018. Beginning in 2019, the RAG Foundation will finance RAG’s perpetual mine management obligations related to coal mining. The foundation will finance these obligations through the sale of shares in Evonik Industries AG, through the income from its holdings, and through the income from its diversified financial assets. The RAG Foundation also aims to promote the Ruhr and Saar regions by supporting educational, scientific, and cultural measures related to coal mining. more
Following the successful placements by RAG Foundation and funds advised by CVC Capital Partners of a total of c. 67.4 million shares in Evonik Industries AG with institutional investors in Germany and abroad, trading of the company's shares commenced today on the Frankfurt and Luxembourg stock exchanges. A total of 466 million Evonik shares can now be traded on the stock exchanges. The free float currently amounts to c. 14.5 percent of the total shares in the company. Evonik resumed preparations for its planned stock market listing in late February 2013; the uncertain stock market conditions had prevented a listing in 2012.
RAG Foundation and funds advised by CVC Capital Partners yesterday successfully placed additional Evonik Industries AG shares exclusively with domestic and international institutional investors via an accelerated bookbuilding. Including over-allotment option (Greenshoe) yesterday’s
placement comprised 10.718 million Evonik shares at a price of 32.20 Euro per share, representing a total placement volume of 345.1 million Euro.