Clariant Shares Tease $150 Million From Norwegian Central Bank
Stock Chart for Clariant AG (CLN)
“I would assume they are quite long term and hence stable,” Patrick Rafaisz, an analyst at Bank Vontobel AG in Zurich, said by e-mail.
Clariant is undergoing its biggest transformation since its spinoff from drugmaker Sandoz in 1995 as it builds out catalyst and consumer-chemical units and sells lower-performing leather- treatment, detergents, and intermediates businesses. The potential earnings drivers of cost savings and high-margin products are not fully factored in by analysts, according to Markus Mayer, an analyst at Kepler Capital Markets.
A group of former shareholders of Sued-Chemie, bought by Clariant for about $2.2 billion in 2011, hold the largest stake.
Shares of Clariant traded 2.8 percent lower at 13.88 francs as of 9:44 a.m. in Zurich. The wider Swiss market was 0.9 percent lower.
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