Lotte Chemical Titan to raise RM5.9 billion in IPO
This will mark Malaysia's biggest share offering in 5 years; the bulk of proceeds will help finance Indonesian petrochem facility
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Kuala Lumpur
SCHEDULED for a July debut on Bursa Malaysia, the initial public offering of Lotte Chemical Titan Holding (LCT) is set to raise RM5.9 billion (S$1.9 billion), marking the country's biggest share offering in five years. The bulk of the proceeds will be used to part finance an integrated petrochemical facility in Indonesia.
A total of 740.5 million shares or 30 per cent of the enlarged share capital of the Korean petrochemical giant will be sold at RM8 apiece.
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