Syensqo completes spin-off

Syensqo had its shares listed on Euronext Brussels and Euronext Paris on 11 December three days after shareholders voted 99.53% in favour of its demerger from Solvay. It also expects to be included in other major stock market indices, such as BEL20, Stoxx Europe 600, MSCI Europe ad FTSE Russell, subject to each individual index review.

The new company employs over 13,000 employees and is spread across the world, with 41% of 2022 net sales in the Americas, 36% in Asia-Pacific and 23% Europe. The initial share price of €90 gives it a market capitalisation of € 9.53 billion.

Syensqo includes the former Specialty Polymers, Composites, Novecare, Aroma, Technology Solutions and Oil & Gas businessses, with €7.9 billion in sales last year, plus the four ‘growth platforms’ in batteries, green hydrogen, thermoplastic composites, and renewable materials and biotechnology. The commodity businesses are continuing as Solvay.

“With SYENS in both our name and ticker, we are now officially launched as a science company, one of the largest publicly traded specialty companies in the world” said CEO Dr Ilham Kadri. “We are uniquely exposed to secular megatrends that will accelerate our long-term growth and are dedicated to having a meaningful impact on our planet.”