Petronas set to test market with $4bn IPO

first_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share Tuesday 12 October 2010 8:19 pm Petronas Chemicals is looking to raise as much as $4bn (£2.5bn) in a Malaysian initial public offering, exceeding earlier estimates of over $2bn as it hopes to tap on strong global investor demand for Asian stocks.Asian capital markets are seeing a flurry of multi-billion deals, helped by a flood of liquidity, low interest rates and strong economic growth.The IPO for Petronas Chemicals, owned by Malaysian state oil giant Petronas, could become the largest share offering in the country, exceeding Maxis’s $3.3bn listing last year.It follows Singapore wealth fund GIC’s logistic unit’s $3bn IPO and may overlap with American International Group’s planned listing of its Asian life insurance business AIA in a deal worth over $15bn.“This is a big surprise and it comes at a time when there is heated interest for oil and gas stocks,” said Danny Wong, chief executive of Acera Capital, which manages about 400m Malaysia ringgit (£81.6m) in funds. “Even though foreign investors are not very big on Malaysia, this IPO could spark more interest and even then I foresee a lot of local institutional players going for this latest proxy of Petronas.”Petronas Chemicals – which manufactures olefins and polyolefins, fertilizers, industrial and speciality chemicals – will begin “pre-marketing” its IPO today with formal investor roadshows slated to begin on 27 October. The deal is expected to be priced on 12 November. Tags: NULLcenter_img whatsapp whatsapp More From Our Partners Sidney Crosby, Alex Ovechkin are graying and frayingnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Petronas set to test market with $4bn IPO Show Comments ▼last_img

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