Lotte Chemical Titan Holding MYX IPO

Overview:

• Lotte Chemical Titan Holding has undertaken an IPO on the Kuala Lumpur Stock Exchange (MYX).
• The shares were priced at RM6.5-8 per share with the company looking to raise $878 million, down from an initial estimate of $1.4 billion.
• The pricing gives the company a market capitilisation of RM15 billion.
• Credit Suisse, JPMorgan and Maybank acted as joint global coordinators for the IPO. CIMB, HSBC and Nomura acted as bookrunners.
• The cornerstone investors were Permodalan Nasional, Eastspring Investments, Great Eastern Life Assurance Malaysia, Maybank Asset Management and Maybank Islamic Asset Management.
• Lotte Chemical Titan Holding is the Malaysian arm of South Korea’s Lotte Chemical.
• This is the largest IPO in Malaysia since the $1.5 billion offering of Astro Malaysia Holdings in 2012. 

Katrin Kostadinova - Data analyst

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