Petronas Seeks to Raise $4 Billion with Chemicals IPO, Double Original Estimates

Petronas Chemicals Bhd. (Kuala Lumpur), the petrochemicals arm of Malaysia's state energy group, is seeking to raise $4 billion in a previously announced initial public offering (IPO) of shares. Petronas initiated the IPO process last month when it filed a draft prospectus with the Malaysian Securities Commission (Kuala Lumpur). The company appointed the CIBM (Kuala Lumpur) bank as the principal adviser in the IPO. Deutsche Bank (Hong Kong) and Morgan Stanley & Co. International are joint global coordinators and joint bookrunner of the institutional offering...

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