Degussa, the German speciality chemicals firm, is to float its cancer research unit, Zentaris, just weeks after saying it was looking for a trade buyer for the business.

Alfred Oberholz, the board member in charge of mergers and acquisitions, said at Degussa's annual general meeting on Tuesday that the company would be floating Zentaris on Frankfurt's high-growth Neuer Markt towards the middle of next month. Roadshows to sell the company to investors will begin in the first week of June, he said.