Lotte Chemical Titan to relaunch IPO at lower price
Publish date: Fri, 30 Jun 2017, 03:22 AM
KUALA LUMPUR: Malaysia's Lotte Chemical Titan Holding Sdn Bhd will relaunch its initial public offering (IPO) on Monday at a lower price than initially targeted due to weak investor appetite, three sources familiar with the deal said.
The IPO will likely be launched at RM6.50 per share, raising RM4.81 billion (US$1.12 billion), the sources said, speaking on condition of anonymity as the process is private.
The offering was earlier expected to price in the RM7.60-RM8.00 per share range, raising up to US$1.4 billion.
Lotte Chemical Titan did not immediately respond to a request for comment.
The integrated petrochemical producer, which is targeting a July IPO on the Bursa Malaysia stock exchange, is wholly owned by South Korea's Lotte Chemical Corp.
Earlier this month, Lotte Chemical Titan said Permodalan Nasional Bhd (PNB), Eastspring Investments Bhd, Great Eastern Life Assurance Malaysia Bhd, Maybank Asset Management Sdn Bhd and Maybank Islamic Asset Management Sdn Bhd had signed on as cornerstone investors.
The IPO plan involved the sale of 740.4 million shares, or 30 per cent of enlarged capital, with 18.4 per cent taken up by the cornerstone investors. -- REUTERS
Discussions
Be the first to like this. Showing 46 of 46 comments
IF BUSINESS NO GOOD BETTER POTONG HARGA FOR STOCK CLEARENCE LOH..!!
BUSINESS SENSE MAH...!!
2017-07-02 14:14
why not, market respond is bad. either u call off the ipo or lower the price, if not, who will buy.
2017-07-02 14:14
What happened now,those that applied earlier ...will get the difference refunded?
2017-07-03 12:30
strange.... never before like this.....as usual after price determination date tomorrow , we will get the refund because for sure the final price will be lower than RM8.00. The extended book building start today and close at 10 pm tonight. I believe the final price will be around RM7.00 Which is relatively cheap...at forward PE arond 10 relative to Pet. Chem now trading at PE about 16. The strange thing is.... you will be given 5 market days to sell your shares to the company (shares buy back) at the final price.......this is ridiculous as who will sell if listing price is higher than IPO price unless the company expect the listing price will be lower than IPO price....so I could not see the logic behind this offer by the company....or may be the company wants to tell the investors...dont be afraid laaaa...It would not go down below IPO price laaaaa.....Gerenti Talak Lugi LOL....
2017-07-03 13:21
You missed out FGV. IPO RM 4.5 now 1.7.
Posted by firehawk > Jul 2, 2017 02:01 PM | Report Abuse
u see lah ... 8.00 becomes 6.50 ... this makes me recall Malakoff and Ranhill, u go to see their price now!
2017-07-04 10:58
Pchem is now moving in its down channel. Interesting to know how Lotte will fare. At least at $6.50, it is less risky.
2017-07-04 11:19
Cannot compare daaa...Icon and FGV rugi punya company daa..LOTTE profit RM1.3b.....You compare musang king dengan sour manggo...mana ada logic daaaa....
2017-07-04 11:19
When listed time Icon , FGV profit also a lot. After 1-2 years everything can change. So Lotte also can change after 1-2 years?
ruslimz Cannot compare daaa...Icon and FGV rugi punya company daa..LOTTE profit RM1.3b.....You compare musang king dengan sour manggo...mana ada logic daaaa....
04/07/2017 11:19
2017-07-04 11:34
firehawk even Ranhill profit more than before IPO more why still drop below IPO?
2017-07-04 11:38
if price revise to RM 6.50 means bankers no tipu the public, if price at 8.00 means tipu the public. why I said this cos if at 8.00 and opening till 5 days later cannot reach ipo price company buyback,public no loss but interest and commission loss. 1 month the sharks roll the public money without interest
2017-07-04 11:46
INi blue chip daa......same like PET Chem......Ranhi,Icon,FGV are red chip.....never before company willing to buy back its shares at IPO price after listing.....lu tau ka ??????
2017-07-04 11:50
if 6.50 I no wanna sell it to them lo, if 8.00 can sell lah. hope the bookbuilding exercise help the retailers
2017-07-04 11:53
sifus is IPO like prostitute? After pakai must buang? Good for Bursa and bankers but bad for those who keep like wife?
2017-07-04 11:54
Just announced the final IPO price is RM6.50...PE 10....vely vely cheap daa.....read my lips...who do not apply, on 11 july ,will cry until last drop of tears.....
2017-07-04 11:54
6.50.....hosei liao,hope I get all and keep until 8.00 then sell.....haha
2017-07-04 12:00
You mean IPO RM 6.5 buy back RM 8? Why they want losing money business?
Posted by ruslimz > Jul 4, 2017 11:50 AM | Report Abuse
INi blue chip daa......same like PET Chem......Ranhi,Icon,FGV are red chip.....never before company willing to buy back its shares at IPO price after listing.....lu tau ka ??????
2017-07-04 12:02
I mean hopefully I get and I keep till 8.00 then sell, I keep 1 year,2 years also nvm.....hahaha
2017-07-04 12:04
RM8.00 is tak jadi IPO price...sure buy back at new final price lol....so sure tak lugi laaaa.....
2017-07-04 12:13
hopefully oil price stays low and lotte profit will be good, even 50% profits dividend payout translate to about 30cts. if 6.50 really a good buy.at 6.50 is consider undervalue stock
2017-07-04 12:25
Why IPO RM 8 tak jadi if 2 years become 18?
Posted by ruslimz > Jul 4, 2017 12:15 PM | Report Abuse
Apollo.......you are a real investor man.....two years not 8...maybe 18..
2017-07-04 12:42
institutional offering has been fully subscribed !!!
retailers offering take up rate only at 43% !!!
the balance will reallocate to institution investors or underwriters...
2017-07-04 12:42
6.50 so let everyone make then only can apply EDRA energy more and vote for BN....hahaha
2017-07-04 12:44
Following the close of the Institutional Offering at 10.00 p.m. on Monday, 3 July 2017 and the
completion of the bookbuilding process under the Institutional Offering, Maybank IB, on behalf
of the Board, wishes to announce that the Institutional Price and the Final Retail Price have
been fixed as follows:
INSTITUTIONAL PRICE – RM6.50 PER SHARE
FINAL RETAIL PRICE – RM6.50 PER SHARE
2017-07-04 12:44
ruslimz you said 2 years can become 18 I ask back RM 8 retailers undersubscribed? Or you main tipu?
Posted by ruslimz > Jul 4, 2017 12:42 PM | Report Abuse
mr. confuse...I don not understand what you are confused about....
2017-07-04 12:45
We the retailers should thanks the institution investors...they really fight hard and finally win...horey...horey RM6.50, cheap...cheap
2017-07-04 12:51
what will be the opening bell price ?
interesting....less retailer vs institutional...
2017-07-04 13:00
all who applied will surely succeed !!!
allotment will be notified before 10 july....most likely 100% :p
2017-07-04 13:02
If become 2nd Ranhill got chance to sell at IPO price? Lotte not Titan Chemical relisted?
Posted by smartly > Jul 4, 2017 01:00 PM | Report Abuse
what will be the opening bell price ?
interesting....less retailer vs institutional...
2017-07-04 13:22
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firehawk
u see lah ... 8.00 becomes 6.50 ... this makes me recall Malakoff and Ranhill, u go to see their price now!
2017-07-02 14:01