Malaysia's Lotte Chemical to raise RM5.9b in IPO

SEOUL: Malaysia's Lotte Chemical Titan Holding will raise 1.55 trillion won (RM5.9 billion) from new shares being issued in an initial public offering (IPO), its South Korean parent Lotte Chemical Corp said on Friday.

Lotte Chemical Corp said in a regulatory filing that the funds raised in the IPO are expected to come from about 740.5 million new shares, valued at the top of an indicative range of RM8 (US$1.87) per share.

The listing could be one of the biggest IPOs in years in Malaysia, which has not seen any listing of US$1 billion and above since the US$1.5 billion IPO of Astro Malaysia Holdings in 2012. – Reuters