Chemical Firm Azelis Jumps After $2.1 Billion Brussels IPO
- Stock climbs as much as 15% in Brussels trading debut
- Offering priced at 26 euros a share, top end of the range
Photographer: David Paul Morris/Bloomberg
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Azelis SA, which provides services to the food ingredients and specialty chemicals industries, surged in its trading debut following the biggest Belgian initial public offering since 2007.
The shares soared as much as 15% in Brussels from the IPO price of 26 euros. The offering priced at the top end of an initial range, valuing Azelis at 6.1 billion euros. The company and its shareholders raised 1.77 billion euros ($2.1 billion) in the deal.