Titan revives listing plan

Malaysian petrochemicals company mandates IPO.

Titan Petrochemicals and Polymers, Malaysia's largest privately owned petrochemicals company has mandated Goldman Sachs for a listing on the Kuala Lumpur Stock Exchange. The US investment bank is said to have beaten off three other banks during bake-offs - HSBC, JPMorgan and Nomura.

The flotation is expected to top $200 million and is scheduled for completion next year. It represents the second time Titan has attempted to list in Malaysia. Having first won approval back in 1998, the group was forced to put its plans on hold because of the financial crisis.

Indeed, it ended up in a debt restructuring after the industry cycle turned in 2000 and in...

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