Lotte Group shelves plans to list Malaysian petrochemicals business amid widening investigations

17-Jun-16

Lotte Group, South Korea’s fifth-largest family-run conglomerate, has shelved plans to list its Malaysian petrochemicals business amid widening investigations at the parent, as per sources in Bloomberg. The group will postpone the planned share sale of Lotte Chemical Titan Holding Sdn Bhd until after the probes are resolved, as per the confidential sources. Lotte Chemical Titan, an arm of Seoul-traded Lotte Chemical Corp, was exploring a Kuala Lumpur IPO as soon as the second half of this year that could have raised more than US$500 ml (RM2.05 blnl), people familiar with the matter said in January.