April 26, 2024
Industrials
Lotte Chemical to expand facility in Malaysia
[THE INVESTOR] Lotte Chemical said on July 11 that it will use proceeds from the initial public offering of its Malaysian unit to finance its facility expansion in the country.
Its Malaysian unit, Lotte Chemical Titan Holdings Berhads, made its market debut there after raising some 1.01 trillion won (US$878 million).
The IPO marks the biggest in the Southeast Asian country since 2012.
Its market capitalization is roughly at 4 trillion won, becoming the 30th largest cap on the Malaysian stock market.
In 2010, Lotte Chemical, formerly known as Honam Petrochemical, bought a 100 percent stake in Titan Chemicals, a Malaysian petrochemical company, for 1.5 trillion won.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Its Malaysian unit, Lotte Chemical Titan Holdings Berhads, made its market debut there after raising some 1.01 trillion won (US$878 million).
The IPO marks the biggest in the Southeast Asian country since 2012.
Its market capitalization is roughly at 4 trillion won, becoming the 30th largest cap on the Malaysian stock market.
In 2010, Lotte Chemical, formerly known as Honam Petrochemical, bought a 100 percent stake in Titan Chemicals, a Malaysian petrochemical company, for 1.5 trillion won.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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