Lotte Chemical's shares fall 29% on dismal results

Kuala Lumpur

SHARES of newly listed Lotte Chemical Titan Holdings Bhd (LCT) have tumbled by about 29 per cent to RM4.28 since it announced significantly weaker-than-forecast results for the second quarter ended June 30.

The company has seen a third of its value dissipate since it listed on the Malaysian exchange on July 11 after raising RM3.8 billion (S$1.2 billion) in a public share sale which was the largest in about five years.

With more initial public offerings (IPOs) in the pipeline, LCT's disappointing performance could dampen investor sentiment, alth…