Lotte Titan oh Lotte Titan

Walau wei new IPO, now down pang pang sheng after results not so good.

Conclusion: Not ALL IPO can buy.

Results news:

IPO news:

FROM RM 8 IPO reduce to RM 6.50, today only RM 4.80....

Lotte Chemical Titan cuts IPO price to RM6.50

PETALING JAYA: Lotte Chemical Titan Holding Bhd has priced its shares at RM6.50 each, sharply lower than what the Bursa Malaysia Main Market-bound company had originally hoped for, amid tepid response from investors.

The company had earlier reduced the size of its initial public offering (IPO) by almost a quarter.

In a filing with Bursa Malaysia yesterday, a statement issued by Maybank Investment Bank Bhd (Maybank IB) said the institutional offering would now involve only 524.22 million shares, compared with the original number of shares to be offered of 684.7 million.

The integrated petrochemical producer was relaunching its IPO at a lower price than initially targeted, following the lukewarm investor appetite.

“Lotte Chemical has reduced the number of new shares offered to institutions by nearly one-quarter due to a lack of strong response for the shares at RM8 each,” one banker said.