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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Lotte Chemical Titan Holding    LCTITAN   MYL5284OO004

LOTTE CHEMICAL TITAN HOLDING

(LCTITAN)
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Malaysia's Mr DIY secures IPO investors, including BlackRock - sources

10/02/2020 | 06:00am EST

KUALA LUMPUR, Oct 2 (Reuters) - Malaysian home-improvement retailer Mr DIY has secured more than a dozen cornerstone investors, including BlackRock Inc, AIA Group Ltd and J.P. Morgan Asset Management for a market debut that could raise 1.5 billion ringgit ($360.75 million), sources said.

The initial public offering (IPO) would be the largest in Malaysia for more than three years. Lotte Chemical Titan raised 3.77 billion ringgit in July 2017.

Other cornerstone investors include Fidelity Investments and Aberdeen Standard Investments, one of four sources with knowledge of the deal said.

The company has set the offering at an indicative IPO price of 1.60 ringgit with the aim of raising around 1.5 billion ringgit, said sources, who declined to be named as the process is private.

One said some of the foreign funds are returning as IPO cornerstone investors in the Malaysian market after a few years of hiatus, keen on the Mr DIY's business that sells household, hardware and electrical products at affordable prices in over 600 stores.

"They like the company and there is lots of interest in this sector which has done very well," the source said. The business has performed during the COVID-19 pandemic as people spend more time at home and carry out improvements.

AIA declined to comment. Mr DIY, BlackRock, JP Morgan Asset Management, Fidelity Investments and Aberdeen Standard Investments did not immediately reply to a request for comment.

Mr DIY, backed by private equity firm Creador, in January listed a draft prospectus but in March decided to delay its listing before Malaysia went into a movement control order to curb the spread of the novel coronavirus.

It restarted its IPO process in July as business picked up after movement restrictions were eased from May.

The company will launch its prospectus next week.

($1 = 4.1580 ringgit) (Reporting by Liz Lee; editing by Barbara Lewis)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIA GROUP LIMITED -3.28% 100.4 End-of-day quote.5.68%
BLACKROCK, INC. -0.96% 735.05 Delayed Quote.1.87%
LOTTE CHEMICAL CORPORATION -1.87% 289000 End-of-day quote.4.71%
LOTTE CHEMICAL TITAN HOLDING -2.80% 2.78 End-of-day quote.0.36%
LOTTE CORPORATION 1.39% 36400 End-of-day quote.3.12%
All news about LOTTE CHEMICAL TITAN HOLDING
2020MR DIY opens books for Malaysia's largest IPO in three years
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2020MR DIY opens books for Malaysia's largest IPO in three years
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2020Malaysia's Mr DIY secures IPO investors, including BlackRock, JP Morgan
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2020Malaysia's Mr DIY secures IPO investors, including BlackRock - sources
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More news
Financials
Sales 2020 7 092 M 1 755 M 1 755 M
Net income 2020 150 M 37,1 M 37,1 M
Net cash 2020 4 239 M 1 049 M 1 049 M
P/E ratio 2020 44,5x
Yield 2020 0,79%
Capitalization 6 319 M 1 563 M 1 564 M
EV / Sales 2020 0,29x
EV / Sales 2021 0,37x
Nbr of Employees 1 495
Free-Float 13,4%
Chart LOTTE CHEMICAL TITAN HOLDING
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Lotte Chemical Titan Holding Technical Analysis Chart | LCTITAN | MYL5284OO004 | MarketScreener
Technical analysis trends LOTTE CHEMICAL TITAN HOLDING
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 2,73 MYR
Last Close Price 2,78 MYR
Spread / Highest target 40,3%
Spread / Average Target -1,98%
Spread / Lowest Target -28,1%
EPS Revisions
Managers and Directors
NameTitle
Hyeon-Cheol Park President, Chief Executive Officer & Director
Abdul Rahman bin Mamat Independent Non-Executive Chairman
Gek Seng Tan CFO, Senior Vice President-Finance & Treasury
Salehaldin bin Nasron VP-Human Resource, Procurement & IT
Kwan Ho Lee Non-Independent Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
LOTTE CHEMICAL TITAN HOLDING0.36%1 563
LG CHEM, LTD.18.33%64 614
DOW INC.3.60%42 651
FORMOSA PLASTICS CORPORATION-6.02%20 612
FORMOSA CHEMICALS & FIBRE CORPORATION-4.72%16 869
COVESTRO AG10.46%13 104