Covestro is a Bayer spin off formed in the fall of 2015 and formerly Bayer MaterialScience, Bayer's $12.3 billion materials science division.Joyce Gannon for the Pittsburgh Post-Gazette September 1, 2015 [http://www.post-gazette.com/business/healthcare-business/2015/09/01/Bayer-s-material-science-unit-now-under-Covestro-name-pittsburgh-robinson/stories/201509010151 Bayer MaterialScience assumes its new identity as Covestro] Covestro shares were first offered on the Frankfurt Stock Exchange in October 2015.Sheenagh Matthews and Alex Webb for Bloomberg News. October 6, 2015 [https://www.bloomberg.com/news/articles/2015-10-06/covestro-jumps-on-first-day-of-trading-in-frankfurt-after-ipo Covestro Jumps on First Day of Trading in Frankfurt After IPO] Bayer sold off shares in 2017 and by September had a 24.6% stake, meaning that Bayer no longer had a controlling interest; Bayer's pension fund had an 8.9% stake managed separately. - Source: Wikipedia
