Petronas Chemicals Group has raised M$12.89 billion $4.15 billion from the largest ever initial public offering in Malaysia and Southeast Asia, exceeding Maxis Berhad’s $3.3 billion listing at this time last year.
At the moment it ranks as the fifth largest deal both in Asia and globally so far this year, but if the 15% greenshoe is exercised in full, it will raise $4.77 billion and push ahead of Samsung Life’s $4.4 billion offering to become the fourth largest after AIA, Agricultural Bank of China and Dai-ichi Life Insurance. The deal brings the total IPO volume in Southeast Asia this year to $14.5 billion, which is more than triple last year’s volume and well...
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