The share price of specialty chemicals group Syensqo rose sharply on Monday for its first trading session on the stock market, following the completion of its demerger from Solvay.

At around 09:20, the shares listed on Euronext Brussels and Paris were up by just over 12%, while Solvay's share price remained suspended for the time being.

Syensqo was officially born on Friday at the close of Solvay's Annual General Meeting of Shareholders, which broadly supported the demerger project with 99.5% of votes in favor.

The new company - which employs over 13,000 people in 30 countries - has inherited Solvay's growth businesses, notably in batteries, green hydrogen, thermoplastic composites, renewable materials and biotechnologies.

Its compounds are used in areas such as housing, food and consumer goods, aircraft, cars, batteries, electronic devices and healthcare.

Its sales reached 7.9 billion euros last year.

The entity recently stated that it was aiming for organic growth of 5% to 7% in net sales over the period 2024-2028, with a current operating margin (Ebitda) expected to be around 25% by 2028.

'Solvay's boss, Ilham Kadri, will head Syensqo, demonstrating the interest of one structure over the other', analysts at Invest Securities pointed out this morning.

At current levels, its market capitalization stands at over 9.8 billion euros, leaving a theoretical post-spin-off valuation of less than three billion euros for Solvay.

Syensqo should soon be included in major benchmark stock market indices, including the BEL 20, STOXX Europe 600, MSCI Europe and FTSE Russell.

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