MAYBANK IB TO THE RESCUE: STABILISING MANAGER’ BUYS EXTRA 1.26 MILLION SHARES TO PROP UP LOTTE CHEMICAL

PETALING JAYA – Lotte Chemical Titan Holding Bhd’s stabilising manager Maybank Investment Bank Bhd (Maybank IB) has assisted the group further by purchasing an additional 1.26 million shares today, bringing the total shares it has purchased since the company’s listing to 23.38 million.

In a filing with Bursa Malaysia, Lotte Chemical Titan said that Maybank IB had bought the additional shares at an average of RM6.402 per share, amounting to RM8.09 million.

Maybank IB has forked out RM150.93 million for the 23.38 million shares it bought under an exercise to stabilise the share performance of the integrated petrochemical company.

Lotte Chemical Titan’s share price, which has been flat since its debut last Tuesday, closed 0.16% or one sen higher today to RM6.41, with 2.43 million shares changing hands. It has a market capitalisation of RM15.82 million.

– Sundaily

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