PT. Lotte Chemical Titan Tbk is to Be Privatized by Lotte Titan Chemical Group Malaysia
PT. Lotte Chemical Titan Tbk (LCT) which is one of Indonesia Petrochemical leading company will soon enough privatized by its parent company Lotte Titan Chemical Group Malaysia (Lotte Malaysia).
The newswire cited people with knowledge of the matter saying that the giant Petrochemical Company is finally come up with the decision due to good performance of LCT in past years. Moreover, LCT also has a good stability and shows a significant increasing in profit since the failing oil prices in recent months.
A Kuala Lumpur based spokesman for Lotte Titan Chemical also said that the decision to totally acquire Child Company is already considered since last year. IDR 500 rupiah per share is being offered by Lotte Malaysia for LCT company value in this privatization. This price per share is way more expensive compare to current company price in Indonesian stock market which value IDR 100.
PT. Lotte Chemical Titan Tbk, previously known as PT Titan Kimia Nusantara Tbk acquired by conglomerate company Lotte Chemical Corp, Korea in 2010 together with its parent company, Lotte Titan Chemical Group Malaysia and its subsidiary PT. Lotte Chemical Titan Nusantara.
Lotte Malaysia is recorded to holds 95% of the LCT stake until 2016 and now wanted to own all of the shares. The privatization will be done approximately in the third quarter of this year. Beside the privatization, they also have planned to build other Lotte Chemical factory in several Indonesia’s area.
Malaysia Stock News