Lotte Chemical's Malaysian unit goes public this week
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16:02 July 10, 2017
SEOUL, July 10 (Yonhap) -- Lotte Chemical Co., South Korea's No. 2 chemical firm, said Monday that its Malaysian unit will go public this week after raising some 1.01 trillion won (US$878 million) through a market debut there.
Lotte Chemical Titan Holding Berhads' initial public offering is the biggest in the Southeast Asian country since 2012. Lotte Chemical Titan will start trading there Tuesday.
In 2010, Lotte Chemical, formerly known as Honam Petrochemical, bought a 100 percent stake in Titan Chemicals Corp. Bhd., a Malaysian petrochemical company, for 1.5 trillion won.
Lotte Chemical Titan is Malaysia's largest producer of olefins and polyolefins products.
sam@yna.co.kr
(END)
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