Germany's top chemical maker BASF SE has asked banks to pitch for a potential listing of its agricultural chemicals division, possibly in the United States or Germany, Bloomberg News reported on Wednesday.

BASF SE ( OTCQX:BASFY) is asking banks to pitch the company for a potential initial public offering of its agricultural chemicals division.

BASF SE has asked banks to pitch for the potential listing of its agricultural chemicals division, people familiar with the matter said, as the German manufacturer moves ahead with its broad overhaul.