Lotte Group may list Malaysian petrochem unit in third quarter

Kuala Lumpur

SOUTH Korean conglomerate Lotte Group plans to list its Malaysian petrochemical unit in the third quarter, company filings show, in an initial public offering that sources say could raise as much as US$1.5 billion.

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.