IPO marks new growth chapter for Lotte Chemical

Titanic day: (from left) Mida CEO Datuk Azman Mahmud, Lotte Group president and Lotte Corporate Innovation Office head Hwang Kag Gyu, South Korea ambassador Yu Hyun Seok, Lotte Chemical Corp president and CEO Kim Gyo Hyun, International Trade and Industry Minister Datuk Seri Mustapa Mohamed, Lotte Chemical Titan Holding Bhd chairman Tan Sri Abdul Rahman Mamat and president/CEO Lee Dong Woo at the prospectus launch.

SEVEN years after buying out Titan Chemicals Corp in Malaysia, South Korean conglomerate Lotte is bringing that asset back to the Malaysian market at a value six times more from then.

The Lotte group bought Titan Chemicals Corp for US$1.25bil in 2010, which based on the exchange rate then, amounted to an estimated RM3bil.