Petronas Chemicals Raises $4.1 Billion in IPO

Petronas Chemicals (Kuala Lumpur) says it raised RM12.8 billion ($4.1 billion) after pricing its shares at the top end of the projected range for its previously announced initial public offering (IPO) (CW, Oct. 18, p. 7). Parent company Petronas priced the institutional portion of the shares at RM5.20/share after attracting orders of approximately RM92.6 billion, the company says. The indicative price was RM4.50-RM5.20/share. The retail portion was priced at RM5.04/share. Petronas decided to float 31% of Petronas Chemicals in the IPO and retains a 69% stake in...

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