Petronas Chemicals sets IPO price at RM5.04

KUALA LUMPUR: Petronas Chemicals Group Bhd has fixed the price of its initial public offering (IPO) at RM5.04 a share for the portion reserved for retail investors and at RM5.20 apiece for shares to be sold to institutional investors.

The IPO would raise RM12.8bil, of which RM9.2bil was to be accrued to parent company Petroliam Nasional Bhd (Petronas), the company said in a statement yesterday.