‘Green shoe’ action continues for Lotte Chemical shares

President and Head of Lotte Chemical BU Huh Soo Young point to the Bursa board at a listing ceremony of the company at Bursa Malaysia on July 11,2017. Looking on are President and CEO of Lotte Chemical Titan Holding Berhad Dr Lee Dong Woo and Chairman Lotte Chemical Titan Holdings Berhad Tan Sri Abdul Rahman Mamat.

PETALING JAYA: As the largest initial public offering (IPO) in five years, Lotte Chemical Titan Holding Bhd continues to see selling pressure.

The stock’s stabilising manager, Maybank Investment Bank Bhd (Maybank IB), propped it up by a further two million shares yesterday, bringing the total shares it has purchased since the company’s listing on Tuesday to 22.12 million.