IPO of Petronas’s Petchem Business May Raise $4 Billion

The previously announced initial public offering (IPO) of Petronas’s petrochemicals business plans to raise about $4 billion, say press reports. Petronas filed a draft prospectus for the IPO of its petrochemicals business last month and the earlier estimate expected the IPO to raise about $2 billion. Petronas Chemicals is expected to be listed on the Bursa Malaysia (Kuala Lumpur) stock exchange in November. Petronas Chemicals will offer about 31% of its share capital, reports say. The listing of Petronas Chemicals is in response to a call by Malaysian prime...

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