Lotte Chemical Titan slips on debut in Malaysia's biggest IPO in 5 years

(July 11): Shares of Lotte Chemical Titan Holding fell in their Malaysian stock market debut on Tuesday due to soft investor appetite for the country's biggest initial public offering in five years.

Lotte Chemical Titan started trading on Bursa Malaysia at its IPO offer price of RM6.50 ($2.10) per share, but had drifted lower to RM6.44 ($2.08) by 0142 GMT.

The integrated petrochemical producer, part of South Korean conglomerate Lotte Group, raised RM3.77 billion ($1.22 million) in the IPO - the largest in Malaysia since 2012.

---

Related Stories

• Economic policies in Malaysia are dictated by politics — why they fail
• Companies that are destroying shareholder value and what can be done about it
• Stating the obvious: Stock prices can only perform with sustained profit growth and positive prospects

---