BASF Seeks Banks to Lead IPO of €20 Billion Agrichemical Unit

BASF is seeking bank partners to lead an IPO for its agrichemical division, a deal estimated at about €20 billion, according to the report. The German chemicals group has invited financial institutions to pitch for roles for the offering in Frankfurt. BASF, which is already listed in Frankfurt, asked banks in recent days to submit proposals related to the planned IPO. If executed at the reported scale, the listing could rank among the largest offerings seen on the exchange in recent years. The development matters for capital markets and for the competitive landscape in specialty chemicals, where the timing and terms of such a major float can influence investor positioning. The process is currently in the proposal stage.