FILE PHOTO: The logo of Lotte Chemical is seen at its building in Seoul, South Korea, June 7, 2016. REUTERS/Kim Hong-Ji/File Photo
THE surprises keep coming for Lotte Chemical Titan Holding Bhd
as its stock has pummelled since its initial public offering (IPO).
From weak buying interest from its listing, its stock has fallen nearly 32% from RM6.50 to RM4.43 yesterday after dropping to RM4.14 after it released its quarterly financial results that showed profits sinking by 72%. In just two days more than RM4bil of Lotte Chemical market capitalisation was wiped out.
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