Take context from the input text and decide on the accurate relationship between 'Covestro' and 'Bayer' from the options provided.
Options: parent organization, owned by, legal form, owner of

Bayer AG’s Covestro plastics unit, which opened its 2.5 billion-euro IPO to investors on Monday, has yet to find demand for all the shares on offer, according to people familiar with the matter.
owned by