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Lotte Chemical Titan debuts on Bursa at RM6.50 a share

11 Juillet 2017

Lotte Chemical Titan Holding Bhd started trading on the Malaysian stock exchange today at RM6.50 per share, unchanged from its IPO offer price.

Speaking after its listing ceremony, senior vice president of corporate planning Philip Kong said part of the proceeds will be used for business expansion in Indonesia and Malaysia.

As at 10.58am, its shares were down 11 sen at RM6.39 in brisk trade, with 25.8 million shares traded.

Analyst's Indicator Review for Fastenal Company (FAST), SS&C Technologies Holdings, Inc. (SSNC)
Jefferies maintained the stock with "Buy" rating in Thursday, June 1 report. (NASDAQ:SSNC) on Friday, July 7 with "Buy" rating. It increased, as 45 investors sold IPG shares while 156 reduced holdings. 66 funds opened positions while 161 raised stakes.

He was responding to pundits' views that the market for polyofelin - one of LCT's core products - is in oversupply, subduing investor interest to its IPO, one of the biggest in Bursa Malaysia since 2012, with short of RM4 billion raised.

In 2010, Lotte Chemical, formerly known as Honam Petrochemical, bought a 100 percent stake in Titan Chemicals, a Malaysian petrochemical company, for 1.5 trillion won.

Lotte Chemical Titan debuts on Bursa at RM6.50 a share