Lotte Chemical Titan Ipo

In a statement on tuesday lotte chemical titan said the ipo had been priced at 6 50 ringgit. Lotte chemical titan one of the most well known petrochemical companies in south east asia strive to be a global chemical company that truly concern about improving the everyday life while keeping the harmonization with the environment. Lotte chemical titan produces malaysia s most comprehensive portfolio of olefins and polyolefins which contribute to the enhancement of every day life.

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Lotte chemical titan had originally planned the ipo for last year but postponed it after south korean authorities began investigating lotte group for alleged wrongdoing.

Lotte chemical titan ipo. Ipo had been cut by a fifth priced at bottom of range updates to closing price by liz lee and a. Detail view lotte chemical titan in everyday life. It was also downsized by about 33 via a cut down in issuance to institutional investors after a price discovery review. He was responding to pundits views that the market for polyolefin is oversupplied subduing investor interest in its ipo.

The company said global institutional investors accounted for about 30 percent of total demand while. Lct s ipo was priced at rm6 50 down from rm8 established in its prospectus. In its prospectus lotte chemical said proceeds from its ipo would be utilised over the next 12 to 36 months to finance the company s expansion in malaysia and indonesia with the majority of. Reporting by liz lee and a.

Lotte chemical titan to raise rm5 92b from ipo the initial public offering ipo of integrated olefin and polyolefin producer lotte chemical titan holding bhd lct is expected to raise gross proceeds of approximately rm5 9bil and achieve a post listing market capitalisation of rm19 7bil at the retail price of rm8 per share. Securities cut lotte chemical titan s target price to 7 41 ringgit from 9 10 ringgit that implies the company s valuation at 19 to 22 discount to regional peers. Kuala lumpur july 11 reuters shares of lotte chemical titan holding bhd fell in their malaysian stock market debut a further indication of weak investor demand after the size of its offering was slashed by a fifth last week. Lotte chemical titan holding bhd s operating profit jumped 60 year on year y o y to rm138 2mil in the third quarter ended sept 30 2020 due to a better polymer products spread on.