Clifford Chance and Adnan Sundra & Low are advising Lotte Chemical Titan Holding, the Malaysian arm of South Korea’s Lotte Chemical Corp, on its planned $1.4 billion debut on Bursa Malaysia.
Cleary Gottlieb Steen & Hamilton and Kadir Andri & Partners are also involved in the IPO, advising the joint global coordinators – Maybank Investment Bank, Credit Suisse and J.P. Morgan – and the joint bookrunners – CIMB Investment Bank, HSBC and Nomura. Cleary is handling matters related to U.S. and English law, while Kadir Andri is overseeing the deal’s Malaysian law aspects.
According to a Reuters report, the listing could be one of Malaysia’s biggest IPOs in years. The country has not seen any listing of $1 billion and above since the $1.5 billion IPO of Astro Malaysia Holdings in 2012.
The company is looking to list at the end of July, and the proceeds will be used to fund several projects: the construction of a naphtha cracker plant in Indonesia and a polypropylene plant in Malaysia, as well as the expansion of its cracker facility in Malaysia.
