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S Korea’s Lotte to make public offer for Malaysian petchem unit

by ChemOrbis Editorial Team -
  • 06/04/2017 (11:56)
According to Reuters, South Korea’s Lotte Group will make a public offer for its Malaysian petrochemical unit in Q3 of 2017. The Group said it is planning to list its subsidiary, Lotte Chemical Titan Holding on Bursa Malaysia stock exchange and offer up to 740.48 million shares of the unit.

The company could raise up to $1.5 billion in an initial public offering, all of which will be used in order to build a naphtha cracker in Indonesia and a PP plant in Malaysia. The company is also planning to expand the capacity of its cracker in Malaysia, the reports revealed.

The size and the pricing of the initial public offering have not been specified yet.
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