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BASF puts planned IPO of Wintershall Dea oil and gas business on ice

FRANKFURT, June 16 (Reuters) - Chemicals group BASF on Wednesday put the planned stock market listing of its Wintershall Dea business on hold until further notice, saying the market was underestimating the value of oil and gas companies.

BASF and co-owner LetterOne have decided to postpone the Initial Public Offering (IPO), previously slated for the second half of 2021, to a later point in time, the German group said in a statement. (Reporting by Ludwig Burger Editing by Madeline Chambers)

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